Zacks Research Downgrades Titan America (NYSE:TTAM) to Strong Sell

Titan America (NYSE:TTAM) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Citigroup lowered their price target on Titan America from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Wall Street Zen downgraded shares of Titan America from a “buy” rating to a “hold” rating in a report on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.00.

Titan America Stock Performance

Shares of TTAM stock opened at $16.38 on Wednesday. Titan America has a 12-month low of $12.18 and a 12-month high of $19.42. The business’s fifty day simple moving average is $16.39 and its 200-day simple moving average is $16.36. The company has a current ratio of 3.03, a quick ratio of 1.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $3.02 billion, a PE ratio of 16.06, a PEG ratio of 1.18 and a beta of 1.36.

Titan America (NYSE:TTAM) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.24 earnings per share for the quarter. Titan America had a return on equity of 19.07% and a net margin of 11.14%.The firm had revenue of $405.66 million during the quarter. Analysts expect that Titan America will post 1.15 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Lawrence Hugh Jr. Wilt acquired 20,000 shares of Titan America stock in a transaction dated Thursday, March 19th. The stock was purchased at an average cost of $14.93 per share, for a total transaction of $298,600.00. Following the completion of the purchase, the chief financial officer directly owned 20,000 shares in the company, valued at $298,600. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Titan America

A number of institutional investors have recently bought and sold shares of the business. River Road Asset Management LLC lifted its stake in Titan America by 3.5% during the 4th quarter. River Road Asset Management LLC now owns 3,856,334 shares of the company’s stock valued at $63,552,000 after acquiring an additional 128,624 shares during the period. Victory Capital Management Inc. increased its stake in shares of Titan America by 7.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,417,804 shares of the company’s stock worth $56,325,000 after acquiring an additional 230,943 shares during the period. 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 worth $42,848,000 after purchasing an additional 885,000 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Titan America by 0.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,424,738 shares of the company’s stock valued at $35,886,000 after purchasing an additional 18,448 shares during the period. Finally, Millennium Management LLC purchased a new stake in Titan America in the first quarter valued at $9,188,000.

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”).