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

Titan Machinery Inc. (NASDAQ:TITN) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 726,600 shares, a decline of 20.9% from the March 15th total of 918,600 shares. Approximately 3.6% of the shares of the stock are short sold. Based on an average trading volume of 183,700 shares, the days-to-cover ratio is presently 4.0 days.

Wall Street Analysts Forecast Growth

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

Titan Machinery Stock Down 2.1 %

Shares of NASDAQ TITN opened at $23.39 on Monday. The stock has a market cap of $534.46 million, a PE ratio of 4.73 and a beta of 1.41. The company has a current ratio of 1.32, a quick ratio of 0.19 and a debt-to-equity ratio of 0.16. Titan Machinery has a 12-month low of $21.44 and a 12-month high of $35.88. The company has a 50-day moving average of $25.26 and a 200 day moving average of $25.91.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings results on Thursday, March 21st. The company reported $1.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $852.10 million during the quarter, compared to analyst estimates of $734.99 million. During the same period in the prior year, the business earned $0.81 earnings per share. The business’s revenue was up 46.2% compared to the same quarter last year. As a group, sell-side analysts predict that Titan Machinery will post 3.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Titan Machinery

A number of hedge funds have recently modified their holdings of TITN. JPMorgan Chase & Co. boosted its holdings in Titan Machinery by 65.8% in the 1st quarter. JPMorgan Chase & Co. now owns 282,713 shares of the company’s stock valued at $7,990,000 after purchasing an additional 112,210 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Titan Machinery in the first quarter valued at approximately $341,000. MetLife Investment Management LLC grew its position in Titan Machinery by 16.0% in the first quarter. MetLife Investment Management LLC now owns 9,539 shares of the company’s stock worth $270,000 after acquiring an additional 1,313 shares during the period. Dimensional Fund Advisors LP increased its stake in Titan Machinery by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,683,465 shares of the company’s stock worth $47,575,000 after acquiring an additional 25,662 shares during the last quarter. Finally, Aviva PLC acquired a new stake in Titan Machinery during the first quarter worth $760,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.