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

Titan Machinery Inc. (NASDAQ:TITN) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 726,600 shares, a drop of 20.9% from the March 15th total of 918,600 shares. Based on an average trading volume of 183,700 shares, the short-interest ratio is currently 4.0 days. Approximately 3.6% of the shares of the company are short sold.

Institutional Trading of Titan Machinery

A number of hedge funds have recently bought and sold shares of the company. Gamco Investors INC. ET AL lifted its holdings in shares of Titan Machinery by 52.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 101,500 shares of the company’s stock worth $2,698,000 after acquiring an additional 35,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Titan Machinery by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 298,292 shares of the company’s stock valued at $7,929,000 after buying an additional 17,790 shares during the period. American Century Companies Inc. grew its stake in shares of Titan Machinery by 241.0% during the third quarter. American Century Companies Inc. now owns 721,521 shares of the company’s stock valued at $19,178,000 after buying an additional 509,919 shares during the last quarter. Voss Capital LLC purchased a new position in shares of Titan Machinery in the third quarter worth about $4,173,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Titan Machinery in the 3rd quarter valued at about $276,000. Institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TITN shares. Stephens reiterated an “overweight” rating and set a $42.00 price objective on shares of Titan Machinery in a research note on Friday, January 12th. TheStreet cut Titan Machinery from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.33.

Titan Machinery Price Performance

Shares of NASDAQ TITN opened at $23.39 on Monday. The firm has a market capitalization of $534.46 million, a P/E ratio of 4.73 and a beta of 1.41. The company has a quick ratio of 0.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $25.26 and its two-hundred day simple moving average is $25.91. Titan Machinery has a twelve month low of $21.44 and a twelve month high of $35.88.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings data on Thursday, March 21st. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $852.10 million for the quarter, compared to analysts’ expectations of $734.99 million. Titan Machinery had a net margin of 4.08% and a return on equity of 18.40%. The business’s quarterly revenue was up 46.2% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. As a group, equities analysts anticipate that Titan Machinery will post 3.35 EPS for the current fiscal year.

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.