Short Interest in Titan Machinery Inc. (NASDAQ:TITN) Decreases By 19.6%

Titan Machinery Inc. (NASDAQ:TITN) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,110,000 shares, a decrease of 19.6% from the February 13th total of 1,380,000 shares. Based on an average trading volume of 268,400 shares, the short-interest ratio is currently 4.1 days. Currently, 5.4% of the shares of the stock are short sold.

Titan Machinery Price Performance

Titan Machinery stock opened at $14.33 on Tuesday. The company has a market capitalization of $331.40 million, a PE ratio of 10.69 and a beta of 1.28. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $16.57 and a two-hundred day moving average price of $15.09. Titan Machinery has a 12 month low of $12.30 and a 12 month high of $27.13.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Robert W. Baird raised shares of Titan Machinery from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $14.00 to $25.00 in a report on Monday, January 27th. Baird R W raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.20.

Institutional Investors Weigh In On Titan Machinery

Hedge funds have recently added to or reduced their stakes in the business. Voss Capital LP increased its position in Titan Machinery by 141.7% in the 4th quarter. Voss Capital LP now owns 684,459 shares of the company’s stock valued at $9,671,000 after acquiring an additional 401,302 shares during the period. First Eagle Investment Management LLC increased its position in Titan Machinery by 42.4% in the 4th quarter. First Eagle Investment Management LLC now owns 634,509 shares of the company’s stock valued at $8,966,000 after acquiring an additional 188,998 shares during the period. English Capital Management LLC increased its position in Titan Machinery by 84.9% in the 3rd quarter. English Capital Management LLC now owns 278,853 shares of the company’s stock valued at $3,884,000 after acquiring an additional 128,073 shares during the period. CenterBook Partners LP acquired a new position in Titan Machinery in the 4th quarter valued at approximately $1,438,000. Finally, Hotchkis & Wiley Capital Management LLC increased its position in Titan Machinery by 16.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 583,830 shares of the company’s stock valued at $8,133,000 after acquiring an additional 84,330 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.