Titan America (NYSE:TTAM) Rating Lowered to Hold at HSBC

Titan America (NYSE:TTAM) was downgraded by equities researchers at HSBC from a “buy” rating to a “hold” rating in a report released on Thursday, MarketBeat reports. They presently have a $18.50 target price on the stock. HSBC’s price objective would suggest a potential upside of 11.24% from the company’s previous close.

Several other equities analysts have also recently issued reports on TTAM. Zacks Research cut shares of Titan America from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Wall Street Zen lowered shares of Titan America from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Citigroup lowered their price objective on shares of Titan America from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.25.

Titan America Price Performance

Shares of NYSE TTAM traded down $0.38 during midday trading on Thursday, reaching $16.63. The stock had a trading volume of 73,223 shares, compared to its average volume of 323,577. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.17 and a beta of 1.24. The stock has a 50-day moving average of $16.10 and a 200-day moving average of $16.45. Titan America has a 12-month low of $12.18 and a 12-month high of $19.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.91 and a current ratio of 3.03.

Titan America (NYSE:TTAM) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $398.42 million for the quarter. Titan America had a net margin of 11.08% and a return on equity of 18.68%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 EPS. As a group, research analysts anticipate that Titan America will post 1.15 EPS for the current fiscal year.

Insider Activity

In related news, CFO Lawrence Hugh Jr. Wilt purchased 20,000 shares of Titan America stock in a transaction on 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 transaction, the chief financial officer owned 20,000 shares of the company’s stock, valued at approximately $298,600. This represents a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On Titan America

A number of large investors have recently made changes to their positions in TTAM. Bank of New York Mellon Corp increased its holdings in shares of 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 worth $839,000 after buying an additional 1,072 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Titan America in the 1st quarter worth $1,167,000. Keybank National Association OH boosted its holdings in Titan America by 11.9% in the 1st quarter. Keybank National Association OH now owns 23,500 shares of the company’s stock worth $352,000 after buying an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Titan America by 2,018.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,271 shares of the company’s stock valued at $103,000 after purchasing an additional 5,975 shares during the last quarter. Finally, River Road Asset Management LLC lifted its holdings in shares of Titan America by 3.5% in 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 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”).