Titan Machinery Inc. (NASDAQ:TITN) Short Interest Down 15.9% in December

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. 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 research note on Tuesday, September 3rd. Northland Securities reiterated a “market perform” rating and set a $25.00 price objective on shares of Titan Machinery in a research report on Friday, September 13th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.00.

Titan Machinery Stock Down 1.8 %

Titan Machinery stock traded down $0.26 during trading hours on Friday, hitting $13.87. The company had a trading volume of 185,944 shares, compared to its average volume of 228,545. The firm’s fifty day moving average is $14.61 and its 200-day moving average is $14.90. The firm has a market capitalization of $320.76 million, a P/E ratio of 10.35 and a beta of 1.30. Titan Machinery has a fifty-two week low of $12.30 and a fifty-two week high of $29.30. 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 (NASDAQ:TITN) last released its quarterly earnings data 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. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The firm had revenue of $679.80 million during the quarter, compared to analysts’ expectations of $675.30 million. During the same quarter last year, the firm earned $1.32 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, research analysts forecast that Titan Machinery will post 0.05 earnings per share for the current year.

Hedge Funds Weigh In On Titan Machinery

A number of hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Titan Machinery by 11.3% in the 2nd quarter. American Century Companies Inc. now owns 1,155,535 shares of the company’s stock valued at $18,373,000 after acquiring an additional 117,577 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Titan Machinery by 16.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 583,830 shares of the company’s stock valued at $8,133,000 after purchasing an additional 84,330 shares during the last quarter. Dana Investment Advisors Inc. raised its position in shares of Titan Machinery by 32.9% in the second quarter. Dana Investment Advisors Inc. now owns 384,548 shares of the company’s stock valued at $6,114,000 after purchasing an additional 95,221 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Titan Machinery by 28.8% in the second quarter. Victory Capital Management Inc. now owns 363,011 shares of the company’s stock worth $5,772,000 after buying an additional 81,248 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in shares of Titan Machinery by 28.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 341,832 shares of the company’s stock worth $4,762,000 after buying an additional 75,710 shares during the period. 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.