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

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) saw a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 1,110,000 shares, a decrease of 19.6% from the February 13th total of 1,380,000 shares. Currently, 5.4% of the company's stock are sold short. Based on an average trading volume of 268,400 shares, the short-interest ratio is presently 4.1 days.

Titan Machinery Stock Performance

NASDAQ:TITN traded up $0.42 during mid-day trading on Friday, hitting $17.05. The company's stock had a trading volume of 409,240 shares, compared to its average volume of 253,967. The business's fifty day moving average is $16.63 and its two-hundred day moving average is $15.09. The stock has a market cap of $394.18 million, a price-to-earnings ratio of 12.75 and a beta of 1.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. Titan Machinery has a 1 year low of $12.30 and a 1 year high of $26.15.

Titan Machinery (NASDAQ:TITN - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($1.88) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($1.01). The company had revenue of $759.90 million for the quarter, compared to analysts' expectations of $728.55 million. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The firm's revenue was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TITN shares. Robert W. Baird reduced their price target on Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Friday. Baird R W upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $19.00.

Hedge Funds Weigh In On Titan Machinery

A number of large investors have recently bought and sold shares of the business. Voss Capital LP raised its stake in shares of Titan Machinery by 141.7% during the 4th quarter. Voss Capital LP now owns 684,459 shares of the company's stock worth $9,671,000 after buying an additional 401,302 shares during the period. First Eagle Investment Management LLC lifted its holdings in Titan Machinery by 42.4% during the fourth quarter. First Eagle Investment Management LLC now owns 634,509 shares of the company's stock valued at $8,966,000 after purchasing an additional 188,998 shares in the last quarter. English Capital Management LLC grew its position in shares of Titan Machinery by 84.9% in the third quarter. English Capital Management LLC now owns 278,853 shares of the company's stock valued at $3,884,000 after purchasing an additional 128,073 shares during the period. CenterBook Partners LP acquired a new position in shares of Titan Machinery during the 4th quarter worth about $1,438,000. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in Titan Machinery by 16.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 583,830 shares of the company's stock valued at $8,133,000 after buying an additional 84,330 shares in the last quarter. Institutional investors and hedge funds 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.