Titan America’s (NYSE:TTAM – Get Free Report) quiet period is set to expire on Wednesday, March 19th. Titan America had issued 24,000,000 shares in its public offering on February 7th. The total size of the offering was $384,000,000 based on an initial share price of $16.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Analyst Upgrades and Downgrades
TTAM has been the subject of several analyst reports. Sanford C. Bernstein initiated coverage on shares of Titan America in a research note on Tuesday, March 4th. They issued a “market perform” rating and a $17.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Titan America in a research note on Wednesday, March 5th. They set a “buy” rating and a $19.00 price objective on the stock. Stifel Nicolaus initiated coverage on shares of Titan America in a research note on Tuesday, March 4th. They set a “buy” rating and a $19.00 price objective on the stock. Citigroup initiated coverage on shares of Titan America in a research note on Tuesday, March 4th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Titan America in a research note on Tuesday, March 4th. They set a “neutral” rating and a $19.00 price objective on the stock. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.36.
Read Our Latest Report on TTAM
Titan America Stock Up 2.4 %
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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