Titan Machinery Inc. (NASDAQ:TITN) Short Interest Update

Titan Machinery Inc. (NASDAQ:TITN) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,110,000 shares, a decline of 19.6% from the February 13th total of 1,380,000 shares. Based on an average daily volume of 268,400 shares, the days-to-cover ratio is currently 4.1 days. Currently, 5.4% of the company’s shares are sold short.

Institutional Trading of Titan Machinery

A number of hedge funds have recently added to or reduced their stakes in TITN. R Squared Ltd purchased a new stake in Titan Machinery in the fourth quarter worth about $26,000. Russell Investments Group Ltd. lifted its stake in Titan Machinery by 51.2% in the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock worth $37,000 after acquiring an additional 882 shares during the period. Truvestments Capital LLC purchased a new stake in Titan Machinery in the third quarter worth about $41,000. US Bancorp DE lifted its position in shares of Titan Machinery by 116.2% during 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 during the last quarter. Finally, FMR LLC lifted its position in shares of Titan Machinery by 142.5% during the third quarter. FMR LLC now owns 5,262 shares of the company’s stock valued at $73,000 after buying an additional 3,092 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Baird R W raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. Robert W. Baird raised shares of Titan Machinery from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $14.00 to $25.00 in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.20.

Titan Machinery Stock Down 3.3 %

NASDAQ:TITN opened at $13.86 on Wednesday. Titan Machinery has a 1-year low of $12.30 and a 1-year high of $27.13. The company has a 50-day moving average of $16.56 and a 200 day moving average of $15.08. The firm has a market cap of $320.53 million, a PE ratio of 10.34 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 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.