Citigroup Lowers Titan America (NYSE:TTAM) Price Target to $19.00

Titan America (NYSE:TTAM) had its target price reduced by stock analysts at Citigroup from $20.00 to $19.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 28.38% from the stock’s current price.

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

Titan America Stock Down 1.1%

Titan America stock traded down $0.17 during mid-day trading on Thursday, reaching $14.80. The stock had a trading volume of 114,438 shares, compared to its average volume of 353,728. The firm has a market capitalization of $2.73 billion and a PE ratio of 14.51. Titan America has a fifty-two week low of $10.80 and a fifty-two week high of $19.42. The stock’s 50-day simple moving average is $17.55 and its 200-day simple moving average is $16.31. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.87 and a current ratio of 2.95.

Titan America (NYSE:TTAM) last issued its earnings results on Tuesday, March 17th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. Titan America had a return on equity of 19.49% and a net margin of 11.14%.The company had revenue of $405.66 million for the quarter. The company’s quarterly revenue was up 4.1% on a year-over-year basis.

Institutional Investors Weigh In On Titan America

Several large investors have recently made changes to their positions in TTAM. BNP Paribas Financial Markets bought a new position in Titan America during the second quarter valued at about $28,000. Kemnay Advisory Services Inc. purchased a new position in Titan America in the fourth quarter valued at about $30,000. Ameritas Investment Partners Inc. purchased a new position in Titan America in the second quarter valued at about $31,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Titan America by 633.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the company’s stock worth $36,000 after purchasing an additional 1,874 shares during the last quarter. Finally, CWM LLC bought a new stake in shares of Titan America in the 3rd quarter worth approximately $61,000.

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”).