Titan Machinery Inc. (NASDAQ:TITN) Short Interest Up 32.0% in August

Titan Machinery Inc. (NASDAQ:TITN) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 640,500 shares, an increase of 32.0% from the July 31st total of 485,200 shares. Approximately 3.2% of the company’s shares are sold short. Based on an average daily volume of 290,800 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Craig Hallum lowered their target price on Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Robert W. Baird lowered their price objective on shares of Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. B. Riley lowered shares of 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 report on Wednesday, June 5th. Northland Securities restated a “market perform” rating and issued a $25.00 price target (up previously from $15.00) on shares of Titan Machinery in a research note on Friday. Finally, Lake Street Capital lowered Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Titan Machinery has a consensus rating of “Hold” and a consensus target price of $21.83.

Titan Machinery Trading Up 6.1 %

TITN opened at $15.11 on Friday. The business’s 50-day simple moving average is $15.66 and its 200-day simple moving average is $20.26. The company has a market cap of $344.78 million, a P/E ratio of 3.63 and a beta of 1.31. Titan Machinery has a one year low of $12.30 and a one year high of $34.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.15 and a current ratio of 1.29.

Titan Machinery (NASDAQ:TITN) last posted its earnings results on Thursday, August 29th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.09). The firm had revenue of $633.70 million during the quarter, compared to analysts’ expectations of $645.28 million. Titan Machinery had a net margin of 3.37% and a return on equity of 14.93%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 earnings per share. As a group, equities research analysts expect that Titan Machinery will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. American Century Companies Inc. grew its holdings in shares of Titan Machinery by 11.3% during the second quarter. American Century Companies Inc. now owns 1,155,535 shares of the company’s stock worth $18,373,000 after buying an additional 117,577 shares during the last quarter. Dana Investment Advisors Inc. grew its stake in shares of Titan Machinery by 32.9% in the 2nd 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 last quarter. First Eagle Investment Management LLC increased its holdings in shares of Titan Machinery by 39.2% in the second quarter. First Eagle Investment Management LLC now owns 334,511 shares of the company’s stock valued at $5,319,000 after purchasing an additional 94,250 shares during the period. Victory Capital Management Inc. raised its stake in shares of Titan Machinery by 28.8% during the second quarter. Victory Capital Management Inc. now owns 363,011 shares of the company’s stock worth $5,772,000 after purchasing an additional 81,248 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Titan Machinery by 552.2% during the second quarter. Squarepoint Ops LLC now owns 87,648 shares of the company’s stock worth $1,394,000 after purchasing an additional 74,209 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.