Titan America (NYSE:TTAM) Stock Rating Upgraded by 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 report issued on Thursday,Zacks.com reports.

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

Titan America Trading Down 1.6%

Shares of TTAM opened at $15.14 on Thursday. The firm’s 50 day simple moving average is $15.76 and its 200 day simple moving average is $16.50. The company has a market capitalization of $2.79 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.98 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.99 and a quick ratio of 1.96. Titan America has a 1-year low of $12.18 and a 1-year high of $19.42.

Titan America (NYSE:TTAM) last announced its earnings results on Tuesday, May 5th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $398.42 million during the quarter. Titan America had a net margin of 11.08% and a return on equity of 18.35%. Titan America’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. Sell-side analysts forecast that Titan America will post 1.09 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of Titan America by 3.0% in the third quarter. Rhumbline Advisers now owns 24,073 shares of the company’s stock worth $360,000 after purchasing an additional 691 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Titan America by 3.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 26,026 shares of the company’s stock worth $429,000 after purchasing an additional 823 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Titan America by 7.1% in the third quarter. Intech Investment Management LLC now owns 13,622 shares of the company’s stock worth $204,000 after purchasing an additional 898 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Titan America by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 55,975 shares of the company’s stock valued at $839,000 after acquiring an additional 1,072 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Titan America by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,733 shares of the company’s stock valued at $243,000 after acquiring an additional 1,786 shares in the last quarter.

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”).