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

Titan Machinery Inc. (NASDAQ:TITN) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 566,700 shares, a growth of 42.2% from the May 31st total of 398,600 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average daily volume of 245,500 shares, the short-interest ratio is currently 2.3 days.

Titan Machinery Stock Down 0.5 %

Shares of NASDAQ TITN opened at $15.90 on Monday. The stock has a market capitalization of $362.84 million, a P/E ratio of 3.82 and a beta of 1.32. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.29 and a quick ratio of 0.15. Titan Machinery has a one year low of $15.65 and a one year high of $34.99. The firm’s 50 day simple moving average is $19.97 and its two-hundred day simple moving average is $23.90.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, May 23rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.26). Titan Machinery had a return on equity of 14.93% and a net margin of 3.37%. The business had revenue of $628.70 million during the quarter, compared to analysts’ expectations of $664.18 million. As a group, analysts expect that Titan Machinery will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. B. Riley cut Titan Machinery from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $32.00 to $20.00 in a research report on Wednesday, June 5th. Robert W. Baird decreased their price objective on shares of Titan Machinery from $24.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Craig Hallum dropped their target price on shares of Titan Machinery from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, StockNews.com lowered shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.00.

Insider Buying and Selling

In other news, Director David Joseph Meyer acquired 55,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average cost of $18.12 per share, for a total transaction of $996,600.00. Following the completion of the transaction, the director now owns 1,805,000 shares of the company’s stock, valued at $32,706,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Titan Machinery

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voss Capital LLC grew its position in shares of Titan Machinery by 11.5% in the 4th quarter. Voss Capital LLC now owns 175,000 shares of the company’s stock worth $5,054,000 after buying an additional 18,017 shares during the period. Quest Partners LLC purchased a new position in shares of Titan Machinery during the fourth quarter valued at approximately $165,000. Charles Schwab Investment Management Inc. grew its stake in shares of Titan Machinery by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 298,292 shares of the company’s stock worth $7,929,000 after buying an additional 17,790 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Titan Machinery during the 4th quarter valued at approximately $301,000. Finally, Dimensional Fund Advisors LP raised its stake in Titan Machinery by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,783,274 shares of the company’s stock valued at $51,501,000 after buying an additional 22,176 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

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.