Titan Machinery Inc. (NASDAQ:TITN) Sees Significant Decrease in Short Interest

Titan Machinery Inc. (NASDAQ:TITN) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 1,060,000 shares, a decline of 15.9% from the November 30th total of 1,260,000 shares. Based on an average trading volume of 214,100 shares, the short-interest ratio is currently 5.0 days. Approximately 5.1% of the company’s stock are short sold.

Titan Machinery Trading Down 0.4 %

TITN opened at $13.81 on Tuesday. Titan Machinery has a 12-month low of $12.30 and a 12-month high of $29.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The stock has a market capitalization of $319.37 million, a PE ratio of 10.31 and a beta of 1.30. The firm’s fifty day moving average price is $14.61 and its 200 day moving average price is $14.88.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Tuesday, November 26th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. The business had revenue of $679.80 million for the quarter, compared to analyst estimates of $675.30 million. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.32 EPS. As a group, research analysts expect that Titan Machinery will post 0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Northland Securities reaffirmed a “market perform” rating and issued a $25.00 price objective on shares of Titan Machinery in a research report on Friday, September 13th. B. Riley lowered their price target on shares of Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Titan Machinery has an average rating of “Hold” and an average price target of $21.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in Titan Machinery during the second quarter valued at $37,000. nVerses Capital LLC boosted its holdings in shares of Titan Machinery by 118.2% in the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $38,000 after buying an additional 1,300 shares during the period. Truvestments Capital LLC bought a new stake in shares of Titan Machinery during the 3rd quarter valued at about $41,000. US Bancorp DE raised its stake in Titan Machinery by 116.2% during the third quarter. US Bancorp DE now owns 3,120 shares of the company’s stock worth $43,000 after acquiring an additional 1,677 shares during the period. Finally, FMR LLC lifted its holdings in Titan Machinery by 142.5% in the third quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after acquiring an additional 3,092 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.