Titan America (NYSE:TTAM) Upgraded to Hold at Zacks Research

Titan America (NYSE:TTAM) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Several other equities research analysts have also issued reports on TTAM. Citigroup lifted their price target on shares of Titan America from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Titan America from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, HSBC downgraded shares of Titan America from a “buy” rating to a “hold” rating and set a $18.50 price objective for the company. in a research report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.42.

Titan America Stock Down 1.6%

Shares of TTAM stock opened at $15.14 on Thursday. The company has a current ratio of 2.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.41. Titan America has a 1 year low of $12.18 and a 1 year high of $19.42. The firm’s fifty day moving average price is $15.76 and its two-hundred day moving average price is $16.50. The firm has a market capitalization of $2.79 billion, a P/E ratio of 14.99, a PEG ratio of 0.98 and a beta of 1.24.

Titan America (NYSE:TTAM) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Titan America had a net margin of 11.08% and a return on equity of 18.35%. The business had revenue of $398.42 million during the quarter. During the same quarter in the prior year, the firm earned $0.19 EPS. The company’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that Titan America will post 1.09 EPS for the current fiscal year.

Insider Activity at Titan America

In other news, CFO Lawrence Hugh Jr. Wilt acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was bought at an average price of $14.93 per share, with a total value of $298,600.00. Following the transaction, the chief financial officer directly owned 20,000 shares in the company, valued at approximately $298,600. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in shares of Titan America in the 1st quarter valued at about $1,452,000. ABS Direct Equity Fund LLC bought a new stake in shares of Titan America during the 1st quarter worth about $449,000. Renaissance Technologies LLC bought a new stake in shares of Titan America during the 1st quarter worth about $1,489,000. Public Employees Retirement System of Ohio bought a new stake in shares of Titan America during the 1st quarter worth about $375,000. Finally, Sei Investments Co. boosted its holdings in shares of Titan America by 23.2% during the 1st quarter. Sei Investments Co. now owns 131,242 shares of the company’s stock worth $1,965,000 after buying an additional 24,672 shares during the period.

Titan America Company Profile

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).