Short Interest in Titan Machinery Inc. (NASDAQ:TITN) Decreases By 30.0%

Titan Machinery Inc. (NASDAQ:TITN) was the recipient of a large drop in short interest in 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. Currently, 2.5% of the company’s stock are sold short. Based on an average daily volume of 182,000 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Trading of Titan Machinery

Several hedge funds have recently made changes to their positions in TITN. SG Americas Securities LLC bought a new stake in shares of Titan Machinery in the 3rd quarter worth approximately $247,000. Voss Capital LLC bought a new stake in shares of Titan Machinery in the 3rd quarter worth approximately $4,173,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Titan Machinery by 3.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,252 shares of the company’s stock worth $432,000 after purchasing an additional 469 shares during the last quarter. BluePath Capital Management LLC bought a new stake in shares of Titan Machinery in the 3rd quarter worth approximately $242,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Titan Machinery by 9.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 377,303 shares of the company’s stock worth $10,029,000 after purchasing an additional 32,331 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Titan Machinery Trading Up 0.4 %

NASDAQ:TITN opened at $22.70 on Friday. 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 business’s 50 day moving average is $24.50 and its two-hundred day moving average is $25.72. Titan Machinery has a 52 week low of $21.44 and a 52 week high of $35.88. The company has a market cap of $518.01 million, a PE ratio of 4.60 and a beta of 1.41.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, March 21st. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $852.10 million for the quarter, compared to the consensus estimate of $734.99 million. Titan Machinery had a return on equity of 18.40% and a net margin of 4.08%. Titan Machinery’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. On average, analysts predict that Titan Machinery will post 3.35 EPS for the current 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.