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Investing.com - Stifel downgraded Titan America (NYSE:TTAM) from Buy to Hold on Monday, while reducing its price target to $15.00 from $17.00, citing concerns about declining cement import volumes and regional market weakness. The company, currently trading at $14.35, maintains strong fundamentals with a P/E ratio of 14.38 and annual revenue of $1.63 billion. According to InvestingPro, TTAM’s overall financial health score is rated as GREAT.
The investment firm’s analysis of import data indicates TTAM’s imported cement volume is trending approximately 20-25% lower year-over-year in the second quarter of 2025, following an estimated 40-50% decline in the first quarter. Imported cement represents about 35% of TTAM’s total cement volume.
Stifel also highlighted relative softness in TTAM’s key markets, with Florida (approximately 60% of revenue) seeing single-family permits down 14% and Virginia (approximately 30% of revenue) experiencing a 15% decline, compared to the 7% decline across the United States.
Further concerns stem from state Department of Transportation budgets for fiscal year 2026, which are down 2% in Florida and 6% in Virginia, underperforming the mid-to-high single-digit growth range for the total U.S. market.
The downgrade reflects Stifel’s view that there are risks to expectations for the remainder of 2025, particularly due to slower housing activity, which accounts for approximately 40% of TTAM’s revenue. With the company’s next earnings report due on July 29, InvestingPro analysis suggests the stock is currently fairly valued, with analyst targets ranging from $13.50 to $18.00.
In other recent news, Titan America reported its first-quarter earnings, with earnings per share (EPS) at $0.19, slightly missing the consensus estimate of $0.20. However, the company’s revenue surpassed expectations, reaching $79.8 million, which is approximately 3% higher than the projected $77.6 million. The first quarter was impacted by adverse weather conditions in Massachusetts, leading to a loss of workdays, and weaker residential demand in Florida, which delayed price increases. In terms of analyst actions, BofA Securities downgraded Titan America from Neutral to Underperform, citing housing concerns, and set a price target of $14.00. Meanwhile, Bernstein maintained its Market Perform rating for Titan America, with a price target of $15.00. These developments come as Titan America’s stock has risen 21% since the beginning of July.
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