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

Key Points

• Stifel Nicolaus cut Titan America’s price target from $19 to $17 while maintaining a “hold” rating, implying approximately 27% upside from the stock’s $13.36 price.
• Analyst sentiment is mixed but leans cautious: the consensus rating is “Hold,” with two Buy, three Hold and two Sell recommendations and an average price target of $18.10.
• Titan America shares fell 2.2% in Wednesday trading, while the company’s latest quarterly EPS of $0.23 missed estimates of $0.29 despite revenue rising 9.6% year over year to $470.63 million.

Titan America (NYSE:TTAM - Get Free Report) had its target price decreased by equities researchers at Stifel Nicolaus from $19.00 to $17.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus's price target indicates a potential upside of 27.21% from the company's current price.

A number of other equities analysts have also recently issued reports on the company. Citigroup cut their price target on Titan America from $21.00 to $18.00 and set a "buy" rating on the stock in a report on Friday, October 2nd. Weiss Ratings lowered shares of Titan America from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, October 20th. Finally, Zacks Research downgraded shares of Titan America from a "hold" rating to a "strong sell" rating in a research report on Friday, October 16th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $18.10.

Titan America Trading Down 2.2%

Shares of NYSE:TTAM traded down $0.30 during midday trading on Wednesday, reaching $13.36. The company's stock had a trading volume of 49,083 shares, compared to its average volume of 287,919. The firm has a market capitalization of $2.46 billion, a price-to-earnings 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 quick ratio of 1.17 and a current ratio of 2.08. The firm has a 50 day moving average price of $14.11 and a two-hundred day moving average price of $16.09. Titan America has a fifty-two week low of $12.88 and a fifty-two week high of $19.57.

Titan America (NYSE:TTAM - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.06). The business had revenue of $470.63 million for the quarter. Titan America had a net margin of 10.35% and a return on equity of 17.03%. Titan America's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. As a group, analysts forecast that Titan America will post 1.07 earnings per share for the current year.

Institutional Trading of Titan America

Hedge funds have recently bought and sold shares of the business. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Titan America during the second quarter worth $7,623,000. Renaissance Technologies LLC acquired a new position in shares of Titan America during the first quarter valued at about $1,489,000. Lazard Asset Management LLC acquired a new position in shares of Titan America during the first quarter valued at about $1,452,000. Principal Financial Group Inc. acquired a new position in Titan America during the 1st quarter valued at about $1,167,000. Finally, Squarepoint Ops LLC bought a new stake in Titan America during the 2nd quarter worth approximately $915,000.

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.

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