Titan America's (TTAM) Underperform Rating Reaffirmed at Bank of America

Titan America (NYSE:TTAM - Get Free Report)'s stock had its "underperform" rating restated by equities research analysts at Bank of America in a report issued on Thursday, MarketBeat Ratings reports. They currently have a $14.00 price objective on the stock. Bank of America's price objective points to a potential downside of 2.17% from the stock's previous close.

A number of other research analysts have also recently commented on TTAM. The Goldman Sachs Group decreased their price target on Titan America from $19.00 to $16.50 and set a "neutral" rating on the stock in a research note on Friday, March 28th. Stifel Nicolaus decreased their price target on Titan America from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.07.

Titan America Stock Performance

TTAM traded down $0.46 on Thursday, reaching $14.31. 236,489 shares of the company's stock were exchanged, compared to its average volume of 438,067. Titan America has a twelve month low of $10.80 and a twelve month high of $17.78. The business has a fifty day moving average price of $13.63. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.45.

Titan America (NYSE:TTAM - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $392.44 million during the quarter, compared to analyst estimates of $391.96 million. The company's revenue for the quarter was down 1.9% on a year-over-year basis.

Hedge Funds Weigh In On Titan America

A number of large investors have recently made changes to their positions in TTAM. American Century Companies Inc. purchased a new position in Titan America during the 1st quarter valued at about $67,597,000. Victory Capital Management Inc. acquired a new stake in shares of Titan America during the 1st quarter worth about $42,625,000. Alliancebernstein L.P. acquired a new stake in shares of Titan America during the 1st quarter worth about $33,017,000. Zimmer Partners LP acquired a new stake in shares of Titan America during the 1st quarter worth about $30,799,000. Finally, Voss Capital LP acquired a new stake in shares of Titan America during the 1st quarter worth about $10,641,000.

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.

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