Titan America (NYSE:TTAM) Stock Rating Lowered by HSBC

Titan America (NYSE:TTAM) was downgraded by equities researchers at HSBC from a “buy” rating to a “hold” rating in a research report issued on Thursday, MarketBeat Ratings reports. They presently have a $18.50 price target on the stock. HSBC’s price target suggests a potential upside of 11.53% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Zacks Research lowered shares of Titan America from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Wall Street Zen lowered shares of Titan America from a “buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Citigroup cut their price target on shares of Titan America from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.42.

Titan America Stock Performance

Shares of NYSE:TTAM opened at $16.59 on Thursday. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 1.07 and a beta of 1.24. Titan America has a 52 week low of $12.18 and a 52 week high of $19.42. The company has a quick ratio of 1.91, a current ratio of 2.99 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $16.05 and a 200 day moving average of $16.46.

Titan America (NYSE:TTAM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.18 EPS 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 return on equity of 18.35% and a net margin of 11.08%.The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $0.19 earnings per share. On average, sell-side analysts predict that Titan America will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Titan America

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

Institutional Trading of Titan America

A number of hedge funds have recently bought and sold shares of TTAM. BNP Paribas Financial Markets acquired a new stake in shares of Titan America during the 2nd quarter worth approximately $28,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Titan America during the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Titan America by 633.1% during the 4th 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. CWM LLC acquired a new stake in shares of Titan America during the 3rd quarter worth approximately $61,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Titan America during the 2nd quarter worth approximately $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”).