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

Titan Machinery Inc. (NASDAQ:TITN) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 1,110,000 shares, a decrease of 19.6% from the February 13th total of 1,380,000 shares. Approximately 5.4% of the company’s stock are sold short. Based on an average trading volume of 268,400 shares, the short-interest ratio is presently 4.1 days.

Hedge Funds Weigh In On Titan Machinery

Large investors have recently modified their holdings of the stock. R Squared Ltd purchased a new stake in Titan Machinery during the 4th quarter valued at about $26,000. Russell Investments Group Ltd. grew its holdings in shares of Titan Machinery by 51.2% during the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock valued at $37,000 after buying an additional 882 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Titan Machinery during the third quarter valued at approximately $41,000. US Bancorp DE increased 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 acquiring an additional 1,677 shares in the last quarter. Finally, FMR LLC raised its holdings in Titan Machinery by 142.5% in the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after acquiring an additional 3,092 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

TITN has been the topic of several research reports. Baird R W upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th. Robert W. Baird upgraded 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 report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.20.

Titan Machinery Stock Up 6.3 %

Shares of NASDAQ:TITN opened at $14.73 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $16.58 and a two-hundred day simple moving average of $15.08. Titan Machinery has a 12-month low of $12.30 and a 12-month high of $27.13. The stock has a market capitalization of $340.65 million, a price-to-earnings ratio of 10.99 and a beta of 1.28.

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.