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

Titan Machinery Inc. (NASDAQ:TITN) was the target of a significant 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. Based on an average daily trading volume, of 182,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 2.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several brokerages recently weighed in on TITN. Stephens reaffirmed an “overweight” rating and set a $42.00 target price on shares of Titan Machinery in a research note on Friday, January 12th. TheStreet cut Titan Machinery from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Titan Machinery has an average 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 Monday. The company has a quick ratio of 0.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.16. 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 $517.99 million, a price-to-earnings ratio of 4.60 and a beta of 1.41. The stock has a fifty day simple moving average of $24.50 and a 200 day simple moving average of $25.72.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results 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 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 quarter last year, the company posted $0.81 EPS. Titan Machinery’s revenue for the quarter was up 46.2% on a year-over-year basis. Sell-side analysts forecast that Titan Machinery will post 3.35 earnings per share for the current year.

Institutional Investors Weigh In On Titan Machinery

Hedge funds have recently bought and sold shares of the business. Quent Capital LLC purchased a new stake in Titan Machinery in the 4th quarter worth about $87,000. C M Bidwell & Associates Ltd. purchased a new stake in Titan Machinery in the 3rd quarter worth about $128,000. Quest Partners LLC purchased a new stake in Titan Machinery in the 4th quarter worth about $165,000. Truvestments Capital LLC lifted its stake in Titan Machinery by 30.7% in the 3rd quarter. Truvestments Capital LLC now owns 7,367 shares of the company’s stock worth $196,000 after acquiring an additional 1,731 shares in the last quarter. Finally, Olympiad Research LP purchased a new stake in Titan Machinery in the 3rd quarter worth about $222,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.