Titan America (NYSE:TTAM) Given New $15.00 Price Target at Citigroup

Titan America (NYSE:TTAM) had its price objective reduced by equities research analysts at Citigroup from $18.00 to $15.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup‘s price target points to a potential upside of 27.66% from the company’s current price.

A number of other research firms also recently issued reports on TTAM. Stifel Nicolaus decreased their price objective on Titan America from $19.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, October 28th. Weiss Ratings cut Titan America from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, October 20th. Finally, Zacks Research downgraded Titan America from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Two 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.50.

Titan America Stock Up 4.4%

NYSE TTAM traded up $0.49 on Monday, reaching $11.75. The company had a trading volume of 172,428 shares, compared to its average volume of 296,364. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 2.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.65 and a current ratio of 1.18. Titan America has a 1-year low of $11.26 and a 1-year high of $19.57. The company’s fifty day moving average is $13.81 and its 200-day moving average is $15.93.

Titan America (NYSE:TTAM) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.15). The firm had revenue of $461.64 million during the quarter. Titan America had a net margin of 9.19% and a return on equity of 14.88%. Titan America’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. On average, research analysts forecast that Titan America will post 0.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Titan America

A number of large investors have recently modified their holdings of the business. Rock Creek Group LLC bought a new position in shares of Titan America in the 3rd quarter valued at about $409,000. ARGA Investment Management LP bought a new stake in Titan America during the third quarter worth about $276,000. State of Alaska Department of Revenue bought a new stake in Titan America during the third quarter worth about $106,000. Squarepoint Ops LLC bought a new stake in Titan America during the second quarter worth about $915,000. Finally, Ancora Advisors LLC boosted its position in Titan America by 0.6% during the second quarter. Ancora Advisors LLC now owns 161,220 shares of the company’s stock valued at $3,008,000 after purchasing an additional 1,020 shares during the last quarter.

Titan America Company Profile

Titan America, Inc is a vertically integrated building materials company that produces and supplies materials used in residential, commercial and infrastructure construction. Its products include cement, aggregates, ready-mixed concrete and other construction materials.

The company serves customers across parts of the Mid-Atlantic and southeastern United States through a network of production facilities and distribution operations. Its businesses include Roanoke Cement and Titan Florida, which supply cement and related materials to regional markets.

Titan America has roots in the U.S.