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

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

Other analysts have also issued reports about the stock. Citigroup reduced their price target on shares of Titan America from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Sanford C. Bernstein raised 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 note on Friday, December 19th. Finally, Jefferies Financial Group boosted their target price on Titan America from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Titan America presently has an average rating of “Hold” and an average price target of $17.00.

Titan America Price Performance

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

Titan America (NYSE:TTAM) last posted its quarterly earnings data on Tuesday, March 17th. The company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The business 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 quarterly revenue was up 4.1% compared to the same quarter last year.

Insiders Place Their Bets

In other Titan America news, CFO Lawrence Hugh Jr. Wilt acquired 20,000 shares of Titan America stock in a transaction dated Thursday, March 19th. The stock was bought at an average price of $14.93 per share, for a total transaction of $298,600.00. Following the transaction, the chief financial officer owned 20,000 shares in the company, valued at approximately $298,600. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Trading of Titan America

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in Titan America during the first quarter worth approximately $9,188,000. Woodline Partners LP bought a new position in shares of Titan America in the first quarter valued at $2,028,000. Jane Street Group LLC bought a new position in shares of Titan America in the first quarter valued at $1,266,000. Geode Capital Management LLC acquired a new stake in shares of Titan America during the 2nd quarter valued at $3,591,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Titan America during the 2nd quarter worth $65,000.

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”).