Titan America (NYSE:TTAM) Stock Gets Price Target Cut from Stifel Nicolaus

Titan America (NYSE:TTAM) had its price target dropped by analysts at Stifel Nicolaus from $19.00 to $17.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus‘s target price points to a potential upside of 27.21% from the stock’s current price.

Several other research firms have also commented on TTAM. Citigroup decreased their price objective on shares of Titan America from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. Zacks Research cut shares of Titan America from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Finally, Weiss Ratings downgraded Titan America from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, October 20th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Titan America presently has a consensus rating of “Hold” and a consensus target price of $18.10.

Titan America Stock Down 2.2%

Shares of NYSE TTAM traded down $0.30 during trading on Wednesday, hitting $13.36. The stock had a trading volume of 49,083 shares, compared to its average volume of 287,919. The firm has a fifty day moving average of $14.11 and a two-hundred day moving average of $16.09. The company has a market capitalization of $2.46 billion, a PE ratio of 13.94, a PEG ratio of 1.19 and a beta of 1.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.08 and a quick ratio of 1.17. Titan America has a 12 month low of $12.88 and a 12 month high of $19.57.

Titan America (NYSE:TTAM) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.06). Titan America had a net margin of 10.35% and a return on equity of 17.03%. The firm had revenue of $470.63 million for the quarter. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Titan America’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that Titan America will post 1.07 EPS for the current fiscal year.

Institutional Trading of Titan America

Large investors have recently added to or reduced their stakes in the stock. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Titan America in the second quarter worth about $7,623,000. Ancora Advisors LLC grew its position in shares of Titan America by 0.6% during the 2nd quarter. Ancora Advisors LLC now owns 161,220 shares of the company’s stock valued at $3,008,000 after acquiring an additional 1,020 shares during the period. Sei Investments Co. increased its stake in shares of Titan America by 23.2% during the 1st quarter. Sei Investments Co. now owns 131,242 shares of the company’s stock worth $1,965,000 after purchasing an additional 24,672 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Titan America during the 1st quarter worth approximately $1,489,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Titan America in the 1st quarter worth approximately $1,452,000.

Titan America Company Profile

Titan America is a building materials company that produces and supplies cement, ready-mix concrete, aggregates and other construction products. Its materials are used in residential, commercial, infrastructure and other construction projects.

The company operates cement manufacturing facilities, distribution terminals, aggregate quarries and ready-mix concrete plants. Its product portfolio also includes concrete masonry products and related materials used by contractors, concrete producers and construction companies.

Titan America serves customers primarily across the eastern and southeastern United States, with operations and distribution capabilities covering markets including Florida, Virginia, the Carolinas, the Mid-Atlantic and the Northeast.