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

Key Points

• HSBC downgraded Titan America (NYSE:TTAM) from "buy" to "hold" and set a $18.50 target, implying roughly an 11.24% upside from the current share price.
• Analyst sentiment is mixed—two Buys, three Holds and two Sells—with an average rating of "Hold" and an average target price of $17.25.
• Titan America missed quarterly EPS ($0.18 vs. $0.20 expected) on $398.42M revenue; the stock traded near $16.63 and has a 1‑year range of $12.18–$19.42.

Titan America (NYSE:TTAM - Get Free Report) was downgraded by HSBC from a "buy" rating to a "hold" rating in a research note issued on Thursday, MarketBeat reports. They presently have a $18.50 target price on the stock. HSBC's target price points to a potential upside of 11.24% from the stock's current price.

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

Titan America Price Performance

Shares of NYSE TTAM traded down $0.38 during mid-day trading on Thursday, reaching $16.63. The company had a trading volume of 73,223 shares, compared to its average volume of 323,577. The company has a current ratio of 3.03, a quick ratio of 1.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3.07 billion, a PE ratio of 16.45, a P/E/G ratio of 1.17 and a beta of 1.24. The company has a 50-day moving average price of $16.10 and a two-hundred day moving average price of $16.45. Titan America has a 1-year low of $12.18 and a 1-year high of $19.42.

Titan America (NYSE:TTAM - Get Free Report) last issued its quarterly 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). Titan America had a net margin of 11.08% and a return on equity of 18.68%. The business had revenue of $398.42 million for the quarter. During the same quarter last year, the company earned $0.19 EPS. The company's quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that Titan America will post 1.15 earnings per share for the current year.

Insider Buying and Selling at Titan America

In other news, CFO Lawrence Hugh Jr. Wilt purchased 20,000 shares of the business's stock in a transaction on Thursday, March 19th. The shares were acquired at an average price of $14.93 per share, with a total value of $298,600.00. Following the completion of the transaction, the chief financial officer owned 20,000 shares of the company's stock, valued at $298,600. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Titan America

Several large investors have recently added to or reduced their stakes in TTAM. Millennium Management LLC purchased a new stake in shares of Titan America during the 1st quarter worth approximately $9,188,000. Woodline Partners LP bought a new position in Titan America in the 1st quarter valued at $2,028,000. Jane Street Group LLC bought a new position in Titan America in the 1st quarter valued at $1,266,000. Geode Capital Management LLC bought a new stake in shares of Titan America during the 2nd quarter worth $3,591,000. Finally, JPMorgan Chase & Co. purchased a new position in Titan America in the 2nd quarter worth $149,000.

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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