Titan Machinery Inc. (NASDAQ:TITN) Short Interest Update

Titan Machinery Inc. (NASDAQ:TITN) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 566,700 shares, an increase of 42.2% from the May 31st total of 398,600 shares. Based on an average daily trading volume, of 245,500 shares, the short-interest ratio is presently 2.3 days. Approximately 2.8% of the shares of the company are short sold.

Titan Machinery Stock Down 0.5 %

Titan Machinery stock traded down $0.08 during trading hours on Friday, hitting $15.90. The company had a trading volume of 547,747 shares, compared to its average volume of 233,638. The firm has a market capitalization of $362.81 million, a P/E ratio of 3.82 and a beta of 1.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.29 and a quick ratio of 0.15. The firm’s fifty day moving average is $19.97 and its 200-day moving average is $23.92. Titan Machinery has a fifty-two week low of $15.65 and a fifty-two week high of $34.99.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Thursday, May 23rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.26). Titan Machinery had a return on equity of 14.93% and a net margin of 3.37%. The business had revenue of $628.70 million for the quarter, compared to analyst estimates of $664.18 million. On average, research analysts forecast that Titan Machinery will post 2.22 earnings per share for the current year.

Insider Activity at Titan Machinery

In related news, Director David Joseph Meyer purchased 55,000 shares of Titan Machinery stock in a transaction dated Tuesday, May 28th. The stock was bought at an average cost of $18.12 per share, with a total value of $996,600.00. Following the purchase, the director now owns 1,805,000 shares in the company, valued at approximately $32,706,600. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 10.28% of the company’s stock.

Institutional Trading of Titan Machinery

Several large investors have recently modified their holdings of the company. SummerHaven Investment Management LLC boosted its holdings in shares of Titan Machinery by 1.7% during the 4th quarter. SummerHaven Investment Management LLC now owns 23,303 shares of the company’s stock worth $673,000 after buying an additional 391 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Titan Machinery by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,789 shares of the company’s stock worth $318,000 after buying an additional 802 shares during the period. Deutsche Bank AG boosted its holdings in shares of Titan Machinery by 0.5% during the 3rd quarter. Deutsche Bank AG now owns 284,603 shares of the company’s stock worth $7,565,000 after buying an additional 1,312 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Titan Machinery by 13.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,583 shares of the company’s stock worth $335,000 after buying an additional 1,379 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Titan Machinery by 18.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 12,347 shares of the company’s stock worth $306,000 after buying an additional 1,920 shares during the period. 78.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

TITN has been the subject of several recent research reports. Craig Hallum cut their target price on shares of Titan Machinery from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Robert W. Baird cut their price target on shares of Titan Machinery from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. StockNews.com lowered shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, B. Riley lowered shares of Titan Machinery from a “buy” rating to a “neutral” rating and cut their price target for the company from $32.00 to $20.00 in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Titan Machinery Company Profile

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.