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

Titan Machinery Inc. (NASDAQ:TITN) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 1,060,000 shares, a decline of 15.9% from the November 30th total of 1,260,000 shares. Based on an average daily volume of 214,100 shares, the days-to-cover ratio is presently 5.0 days. Currently, 5.1% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities analysts recently issued reports on TITN shares. Northland Securities restated a “market perform” rating and set a $25.00 price target on shares of Titan Machinery in a research note on Friday, September 13th. B. Riley cut their target price on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.00.

Hedge Funds Weigh In On Titan Machinery

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in Titan Machinery by 2.9% in the second quarter. Rhumbline Advisers now owns 34,726 shares of the company’s stock worth $552,000 after purchasing an additional 987 shares in the last quarter. nVerses Capital LLC lifted its position in Titan Machinery by 118.2% during the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $38,000 after buying an additional 1,300 shares in the last quarter. US Bancorp DE grew its holdings in Titan Machinery by 116.2% during the 3rd quarter. US Bancorp DE now owns 3,120 shares of the company’s stock worth $43,000 after acquiring an additional 1,677 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Titan Machinery in the 2nd quarter valued at about $37,000. Finally, Janus Henderson Group PLC raised its stake in shares of Titan Machinery by 6.8% in the third quarter. Janus Henderson Group PLC now owns 39,262 shares of the company’s stock worth $547,000 after acquiring an additional 2,496 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Titan Machinery Price Performance

Shares of TITN stock traded down $0.26 during trading hours on Friday, hitting $13.87. The company had a trading volume of 185,944 shares, compared to its average volume of 228,545. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. The firm has a market capitalization of $320.76 million, a price-to-earnings ratio of 10.35 and a beta of 1.30. Titan Machinery has a 12 month low of $12.30 and a 12 month high of $29.30. The firm’s fifty day moving average is $14.61 and its 200 day moving average is $14.90.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The company had revenue of $679.80 million during the quarter, compared to analysts’ expectations of $675.30 million. During the same period last year, the business earned $1.32 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. On average, sell-side analysts predict that Titan Machinery will post 0.05 EPS for the current fiscal year.

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.