Short Interest in Titan Machinery Inc. (NASDAQ:TITN) Decreases By 20.9%

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 726,600 shares, a decrease of 20.9% from the March 15th total of 918,600 shares. Currently, 3.6% of the shares of the company are sold short. Based on an average daily volume of 183,700 shares, the days-to-cover ratio is currently 4.0 days.

Institutional Investors Weigh In On Titan Machinery

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of Titan Machinery by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,816,045 shares of the company's stock valued at $55,298,000 after purchasing an additional 47,363 shares in the last quarter. BlackRock Inc. grew its holdings in Titan Machinery by 2.0% during the 2nd quarter. BlackRock Inc. now owns 1,700,751 shares of the company's stock valued at $50,172,000 after buying an additional 32,803 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Titan Machinery by 4.2% during the third quarter. Vanguard Group Inc. now owns 1,340,569 shares of the company's stock valued at $37,884,000 after buying an additional 53,507 shares during the period. Global Alpha Capital Management Ltd. lifted its holdings in shares of Titan Machinery by 9.2% in the third quarter. Global Alpha Capital Management Ltd. now owns 969,218 shares of the company's stock worth $25,762,000 after buying an additional 82,000 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Titan Machinery by 241.0% in the third quarter. American Century Companies Inc. now owns 721,521 shares of the company's stock valued at $19,178,000 after acquiring an additional 509,919 shares during the period. Institutional investors own 78.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stephens reissued an "overweight" rating and issued a $42.00 price target on shares of Titan Machinery in a report on Friday, January 12th. TheStreet lowered shares of Titan Machinery from a "b-" rating to a "c+" rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.33.

Titan Machinery Stock Performance

Shares of TITN stock traded down $0.49 on Friday, hitting $23.39. 177,513 shares of the stock were exchanged, compared to its average volume of 218,241. The firm's 50 day moving average is $25.26 and its two-hundred day moving average is $25.91. Titan Machinery has a one year low of $21.44 and a one year high of $35.88. The firm has a market capitalization of $534.46 million, a PE ratio of 4.73 and a beta of 1.41. The company has a current ratio of 1.32, a quick ratio of 0.19 and a debt-to-equity ratio of 0.16.

Titan Machinery (NASDAQ:TITN - Get Free Report) last issued its earnings results on Thursday, March 21st. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.06. Titan Machinery had a net margin of 4.08% and a return on equity of 18.40%. The firm had revenue of $852.10 million during the quarter, compared to analyst estimates of $734.99 million. During the same quarter last year, the business earned $0.81 earnings per share. The company's quarterly revenue was up 46.2% on a year-over-year basis. Sell-side analysts expect that Titan Machinery will post 3.35 earnings per share for the current fiscal year.

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.