Titan America (NYSE:TTAM) Downgraded to Hold Rating by Wall Street Zen

Titan America (NYSE:TTAM) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

TTAM has been the subject of several other reports. Jefferies Financial Group boosted their price objective on shares of Titan America from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Sanford C. Bernstein raised their target price on shares of Titan America from $15.00 to $17.00 and gave the stock a “market perform” rating in a report on Friday, December 19th. Finally, Citigroup decreased their target price on Titan America from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.00.

Titan America Stock Performance

TTAM stock opened at $14.84 on Friday. The stock’s 50 day simple moving average is $17.19 and its 200 day simple moving average is $16.27. Titan America has a 12-month low of $10.80 and a 12-month high of $19.42. The firm has a market cap of $2.74 billion and a P/E ratio of 14.55. The company has a current ratio of 3.03, a quick ratio of 1.91 and a debt-to-equity ratio of 0.43.

Titan America (NYSE:TTAM) last released its quarterly earnings data on Tuesday, March 17th. The company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. The firm had revenue of $405.66 million during the quarter. Titan America had a net margin of 11.14% and a return on equity of 19.07%. The firm’s revenue was up 4.1% compared to the same quarter last year.

Insider Activity at Titan America

In other news, CFO Lawrence Hugh Jr. Wilt acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average price of $14.93 per share, with a total value of $298,600.00. Following the acquisition, the chief financial officer directly owned 20,000 shares in the company, valued at approximately $298,600. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. River Road Asset Management LLC bought a new position in Titan America in the 2nd quarter worth about $45,507,000. Voss Capital LP raised its holdings in shares of Titan America by 51.6% during the fourth quarter. Voss Capital LP now owns 2,600,000 shares of the company’s stock valued at $42,848,000 after buying an additional 885,000 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Titan America during the first quarter worth approximately $9,188,000. Invesco Ltd. boosted its position in shares of Titan America by 3,319.8% during the fourth quarter. Invesco Ltd. now owns 515,426 shares of the company’s stock worth $8,494,000 after buying an additional 500,354 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Titan America by 176.6% in the 2nd quarter. Franklin Resources Inc. now owns 697,226 shares of the company’s stock worth $8,701,000 after buying an additional 445,154 shares in the last quarter.

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”).