Titan America (NYSE:TTAM) Given New $20.00 Price Target at Citigroup

Key Points

• Citigroup raised its price target on Titan America from $19 to $20 and kept a buy rating, implying about 20.6% upside from the current price.
• Recent analyst sentiment is mixed: HSBC, Wall Street Zen, and Zacks Research all downgraded the stock, leaving the overall consensus at Hold with an average target of $17.42.
• Titan America reported Q1 earnings of $0.18 per share, missing estimates by $0.02, while revenue rose 1.5% year over year to $398.42 million.

Titan America (NYSE:TTAM - Get Free Report) had its price target hoisted by research analysts at Citigroup from $19.00 to $20.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target indicates a potential upside of 20.58% from the company's current price.

TTAM has been the topic of several other research reports. HSBC cut Titan America from a "buy" rating to a "hold" rating and set a $18.50 price target on the stock. in a report on Thursday. Wall Street Zen cut Titan America from a "buy" rating to a "hold" rating in a report on Monday, April 13th. Finally, Zacks Research cut Titan America from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.42.

Titan America Price Performance

Shares of NYSE:TTAM traded down $0.16 during midday trading on Friday, reaching $16.59. The company's stock had a trading volume of 129,371 shares, compared to its average volume of 327,396. Titan America has a fifty-two week low of $12.18 and a fifty-two week high of $19.42. The company has a market capitalization of $3.06 billion, a P/E ratio of 16.42, a P/E/G ratio of 1.28 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.99 and a quick ratio of 1.91. The business's fifty day simple moving average is $16.05 and its 200-day simple moving average is $16.46.

Titan America (NYSE:TTAM - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The business had revenue of $398.42 million during the quarter. Titan America had a net margin of 11.08% and a return on equity of 18.35%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 EPS. As a group, equities research analysts expect that Titan America will post 1.09 EPS for the current fiscal year.

Insider Transactions at Titan America

In related news, CFO Lawrence Hugh Jr. Wilt bought 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 completion of the acquisition, the chief financial officer owned 20,000 shares in the company, valued at approximately $298,600. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Titan America

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. bought a new position in Titan America during the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd boosted its holdings in 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 worth $36,000 after buying an additional 1,874 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Titan America during the second quarter worth about $28,000. CWM LLC bought a new position in Titan America during the third quarter worth about $61,000. Finally, SG Americas Securities LLC bought a new position in Titan America during the fourth quarter worth about $104,000.

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”).

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