Titan America SA (NYSE:TTAM) Receives Consensus Rating of “Hold” from Brokerages

Titan America SA (NYSE:TTAM) has been assigned a consensus rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $17.2143.

TTAM has been the topic of a number of analyst reports. Sanford C. Bernstein boosted their price objective on shares of Titan America from $15.00 to $17.00 and gave the company a “market perform” rating in a research report on Friday. Jefferies Financial Group lifted their price target on shares of Titan America from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Finally, Wall Street Zen raised shares of Titan America from a “hold” rating to a “buy” rating in a research report on Saturday, November 29th.

Titan America Price Performance

NYSE:TTAM opened at $16.95 on Wednesday. The firm has a market capitalization of $3.12 billion and a price-to-earnings ratio of 17.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.95 and a quick ratio of 1.87. The business has a 50 day simple moving average of $15.67 and a 200-day simple moving average of $14.90. Titan America has a 1 year low of $10.80 and a 1 year high of $17.78.

Titan America (NYSE:TTAM) last released its earnings results on Wednesday, November 5th. The company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $436.85 million for the quarter, compared to the consensus estimate of $439.30 million. Titan America had a return on equity of 19.80% and a net margin of 10.83%.The business’s quarterly revenue was up 6.2% on a year-over-year basis.

Titan America Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, December 29th. Stockholders of record on Wednesday, December 17th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, December 17th. Titan America’s dividend payout ratio is presently 16.16%.

Hedge Funds Weigh In On Titan America

Several hedge funds have recently bought and sold shares of TTAM. American Century Companies Inc. boosted its stake in shares of Titan America by 16.5% during the second quarter. American Century Companies Inc. now owns 5,823,647 shares of the company’s stock valued at $72,679,000 after purchasing an additional 823,900 shares during the period. River Road Asset Management LLC bought a new stake in Titan America during the 2nd quarter valued at about $45,507,000. Alliancebernstein L.P. purchased a new stake in Titan America in the 1st quarter valued at about $33,017,000. Allspring Global Investments Holdings LLC grew its stake in Titan America by 0.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,424,738 shares of the company’s stock worth $35,886,000 after acquiring an additional 18,448 shares in the last quarter. Finally, Zimmer Partners LP purchased a new position in shares of Titan America during the first quarter worth approximately $30,799,000.

About Titan America

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”).