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

Titan Machinery Inc. (NASDAQ:TITN) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 508,800 shares, a drop of 30.0% from the March 31st total of 726,600 shares. Based on an average trading volume of 182,000 shares, the short-interest ratio is presently 2.8 days. Approximately 2.5% of the shares of the company are sold short.

Institutional Investors Weigh In On Titan Machinery

Several institutional investors have recently made changes to their positions in TITN. American Century Companies Inc. boosted its position in shares of Titan Machinery by 241.0% during the 3rd quarter. American Century Companies Inc. now owns 721,521 shares of the company’s stock worth $19,178,000 after purchasing an additional 509,919 shares in the last quarter. Voss Capital LLC purchased a new stake in shares of Titan Machinery during the 3rd quarter worth $4,173,000. Global Alpha Capital Management Ltd. boosted its position in shares of Titan Machinery by 9.2% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 969,218 shares of the company’s stock worth $25,762,000 after purchasing an additional 82,000 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Titan Machinery during the 4th quarter worth $1,620,000. Finally, Smith Graham & Co. Investment Advisors LP boosted its position in shares of Titan Machinery by 20.3% during the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 286,708 shares of the company’s stock worth $8,280,000 after purchasing an additional 48,438 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Titan Machinery Stock Performance

NASDAQ:TITN opened at $22.70 on Monday. The firm’s fifty day moving average price is $24.50 and its 200 day moving average price is $25.72. Titan Machinery has a 1-year low of $21.44 and a 1-year high of $35.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.32 and a quick ratio of 0.19. The firm has a market cap of $517.99 million, a price-to-earnings ratio of 4.60 and a beta of 1.41.

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 analysts’ consensus estimates of $0.99 by $0.06. Titan Machinery had a net margin of 4.08% and a return on equity of 18.40%. The firm had revenue of $852.10 million for the quarter, compared to analyst estimates of $734.99 million. During the same period last year, the firm posted $0.81 EPS. Titan Machinery’s quarterly revenue was up 46.2% on a year-over-year basis. On average, sell-side analysts expect that Titan Machinery will post 3.35 EPS for the current 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.