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

Key Points

• Zacks Research downgraded Titan America (NYSE:TTAM) from a "hold" to a "strong sell" in a research report to clients.
• Analyst coverage is mixed—two Buys, two Holds and two Sells—leaving an average rating of Hold and an average price target of $17.
• Contrasting the downgrades, CFO Lawrence Hugh Jr. Wilt bought 20,000 shares at about $14.93 on March 19, indicating insider buying.

Titan America (NYSE:TTAM - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other analysts have also weighed in on the company. Wall Street Zen lowered Titan America from a "buy" rating to a "hold" rating in a research note on Monday, April 13th. Citigroup lowered their target price on shares of Titan America from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, March 19th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Titan America has an average rating of "Hold" and an average price target of $17.00.

Titan America Trading Down 0.3%

TTAM opened at $16.38 on Wednesday. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.18 and a beta of 1.36. The stock's 50 day moving average price is $16.39 and its 200-day moving average price is $16.36. Titan America has a one year low of $12.18 and a one year 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 - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.24 earnings per share (EPS) 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. On average, equities analysts forecast that Titan America will post 1.15 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Lawrence Hugh Jr. Wilt bought 20,000 shares of the stock in a transaction on Thursday, March 19th. The stock was bought at an average price of $14.93 per share, for a total transaction of $298,600.00. Following the completion of the acquisition, the chief financial officer directly owned 20,000 shares in the company, valued at approximately $298,600. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TTAM. BNP Paribas Financial Markets bought a new stake in Titan America during the second quarter valued at about $28,000. Kemnay Advisory Services Inc. bought a new position in Titan America in the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Titan America by 633.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the company's stock valued at $36,000 after buying an additional 1,874 shares during the last quarter. CWM LLC bought a new stake in shares of Titan America in the 3rd quarter valued at about $61,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Titan America in the 2nd quarter valued at about $96,000.

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”).

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