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

Titan Machinery Inc. (NASDAQ:TITN) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 508,800 shares, a decline of 30.0% from the March 31st total of 726,600 shares. Based on an average daily 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.

Titan Machinery Trading Up 0.4 %

Shares of TITN stock opened at $22.70 on Friday. The business’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 firm has a market capitalization of $518.01 million, a PE ratio of 4.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.32 and a quick ratio of 0.19.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MBM Wealth Consultants LLC boosted its position in Titan Machinery by 12.2% during the first quarter. MBM Wealth Consultants LLC now owns 18,737 shares of the company’s stock worth $465,000 after purchasing an additional 2,038 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Titan Machinery by 18.4% during the first quarter. Los Angeles Capital Management LLC now owns 12,347 shares of the company’s stock worth $306,000 after purchasing an additional 1,920 shares in the last quarter. Fisher Asset Management LLC boosted its position in Titan Machinery by 56.3% during the fourth quarter. Fisher Asset Management LLC now owns 60,257 shares of the company’s stock worth $1,740,000 after purchasing an additional 21,703 shares in the last quarter. Gabelli Funds LLC boosted its position in Titan Machinery by 31.4% during the fourth quarter. Gabelli Funds LLC now owns 92,000 shares of the company’s stock worth $2,657,000 after purchasing an additional 22,000 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its position in Titan Machinery by 170.3% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 33,619 shares of the company’s stock worth $971,000 after purchasing an additional 21,180 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TITN. TheStreet lowered Titan Machinery from a “b-” rating to a “c+” rating in a report on Monday, February 26th. Stephens reissued an “overweight” rating and issued 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

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.