Titan Machinery Inc. (NASDAQ:TITN) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 492,400 shares, an increase of 9.7% from the June 30th total of 448,800 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average trading volume of 140,200 shares, the days-to-cover ratio is presently 3.5 days.
Several equities analysts have recently issued reports on TITN shares. Zacks Investment Research raised shares of Titan Machinery from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Wednesday, June 3rd. BidaskClub raised shares of Titan Machinery from a “buy” rating to a “strong-buy” rating in a report on Friday, July 17th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $14.00.
TITN stock opened at $10.87 on Friday. The company has a market capitalization of $252.62 million, a P/E ratio of 14.49 and a beta of 1.96. The company has a 50-day simple moving average of $10.75 and a 200 day simple moving average of $10.40. Titan Machinery has a fifty-two week low of $6.96 and a fifty-two week high of $21.88. The company has a quick ratio of 0.29, a current ratio of 1.51 and a debt-to-equity ratio of 0.39.
Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.27. The business had revenue of $310.21 million during the quarter, compared to the consensus estimate of $257.60 million. Titan Machinery had a net margin of 1.25% and a return on equity of 6.02%. Equities analysts anticipate that Titan Machinery will post 0.22 EPS for the current year.
A number of hedge funds have recently bought and sold shares of TITN. Victory Capital Management Inc. lifted its holdings in Titan Machinery by 48.8% in the fourth quarter. Victory Capital Management Inc. now owns 18,213 shares of the company’s stock worth $269,000 after purchasing an additional 5,974 shares during the period. UBS Group AG lifted its holdings in Titan Machinery by 73.2% in the fourth quarter. UBS Group AG now owns 26,231 shares of the company’s stock worth $388,000 after purchasing an additional 11,090 shares during the period. Bank of New York Mellon Corp lifted its holdings in Titan Machinery by 15.7% in the fourth quarter. Bank of New York Mellon Corp now owns 90,477 shares of the company’s stock worth $1,338,000 after purchasing an additional 12,257 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in Titan Machinery by 15.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 26,817 shares of the company’s stock valued at $396,000 after acquiring an additional 3,680 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in Titan Machinery by 65.8% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,450 shares of the company’s stock valued at $140,000 after acquiring an additional 3,750 shares during the last quarter. 74.43% of the stock is owned by institutional investors and hedge funds.
Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. 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.
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