Citigroup Issues Pessimistic Forecast for Titan America (NYSE:TTAM) Stock Price

Titan America (NYSE:TTAM) had its price target dropped by equities researchers at Citigroup from $20.00 to $19.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 33.94% from the company’s previous close.

A number of other brokerages have also recently issued reports on TTAM. Wall Street Zen raised shares of Titan America from a “hold” rating to a “buy” rating in a research note on Saturday, November 29th. Sanford C. Bernstein raised their target price on Titan America from $15.00 to $17.00 and gave the company a “market perform” rating in a report on Friday, December 19th. Finally, Jefferies Financial Group lifted their price target on Titan America from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.92.

Titan America Trading Down 3.6%

Shares of Titan America stock opened at $14.19 on Thursday. The company has a market capitalization of $2.62 billion and a price-to-earnings ratio of 13.91. The company has a quick ratio of 1.87, a current ratio of 3.03 and a debt-to-equity ratio of 0.43. Titan America has a 12-month low of $10.80 and a 12-month high of $19.42. The firm’s 50-day moving average price is $17.44 and its two-hundred day moving average price is $16.29.

Titan America (NYSE:TTAM) last issued its earnings results on Tuesday, March 17th. The company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. Titan America had a net margin of 11.14% and a return on equity of 19.07%. The company had revenue of $405.66 million during the quarter. The business’s revenue was up 4.1% on a year-over-year basis.

Institutional Investors Weigh In On Titan America

A number of hedge funds and other institutional investors have recently bought and sold shares of TTAM. Franklin Resources Inc. raised its position in Titan America by 176.6% in the second quarter. Franklin Resources Inc. now owns 697,226 shares of the company’s stock valued at $8,701,000 after purchasing an additional 445,154 shares during the last quarter. American Century Companies Inc. grew its holdings 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 worth $72,679,000 after purchasing an additional 823,900 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Titan America by 38.7% in the third quarter. First Eagle Investment Management LLC now owns 355,610 shares of the company’s stock valued at $5,313,000 after buying an additional 99,300 shares during the period. River Road Asset Management LLC bought a new position in Titan America in the 2nd quarter valued at approximately $45,507,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in Titan America in the 2nd quarter valued at approximately $65,000.

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”).