Short Interest in Titan Machinery Inc. (NASDAQ:TITN) Declines By 15.9%

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Northland Securities reaffirmed a “market perform” rating and issued a $25.00 target price on shares of Titan Machinery in a research report on Friday, September 13th. B. Riley reduced their price objective 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 research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $21.00.

Titan Machinery Price Performance

Titan Machinery stock traded down $0.29 during mid-day trading on Monday, hitting $13.58. 43,125 shares of the company were exchanged, compared to its average volume of 227,764. The company has a market capitalization of $314.05 million, a PE ratio of 10.13 and a beta of 1.30. The business has a fifty day moving average of $14.61 and a 200 day moving average of $14.88. Titan Machinery has a 1-year low of $12.30 and a 1-year high of $29.29. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its holdings in Titan Machinery by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 34,726 shares of the company’s stock valued at $552,000 after purchasing an additional 987 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Titan Machinery by 118.2% during the second quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $38,000 after purchasing an additional 1,300 shares during the last quarter. US Bancorp DE increased its stake in shares of Titan Machinery by 116.2% in the third quarter. US Bancorp DE now owns 3,120 shares of the company’s stock valued at $43,000 after buying an additional 1,677 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Titan Machinery in the second quarter valued at about $37,000. Finally, Janus Henderson Group PLC lifted its position in Titan Machinery by 6.8% during the 3rd quarter. Janus Henderson Group PLC now owns 39,262 shares of the company’s stock worth $547,000 after buying an additional 2,496 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

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.