Barclays Lowers Tronox (NYSE:TROX) Price Target to $18.00

Tronox (NYSE:TROX) had its target price decreased by stock analysts at Barclays from $19.00 to $18.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 33.43% from the company’s previous close.

TROX has been the topic of a number of other research reports. The Goldman Sachs Group lowered their target price on shares of Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. StockNews.com raised shares of Tronox from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Mizuho assumed coverage on shares of Tronox in a research note on Friday, June 7th. They set a “neutral” rating and a $22.00 price target on the stock. Finally, UBS Group cut their price objective on shares of Tronox from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Tronox presently has a consensus rating of “Hold” and a consensus target price of $18.17.

Tronox Stock Performance

Shares of TROX traded down $0.23 during trading hours on Wednesday, reaching $13.49. 183,343 shares of the company traded hands, compared to its average volume of 1,130,642. The stock’s fifty day moving average is $13.79 and its 200 day moving average is $16.34. The stock has a market cap of $2.13 billion, a P/E ratio of -6.05, a price-to-earnings-growth ratio of 24.10 and a beta of 1.64. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.08 and a current ratio of 2.98. Tronox has a 1-year low of $10.08 and a 1-year high of $20.70.

Tronox (NYSE:TROX) last posted its earnings results on Thursday, August 1st. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $848.04 million. Tronox had a negative net margin of 2.14% and a negative return on equity of 3.40%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 EPS. Equities research analysts anticipate that Tronox will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tronox

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tronox in the second quarter worth $76,000. Headlands Technologies LLC bought a new stake in shares of Tronox during the second quarter worth $83,000. SG Americas Securities LLC bought a new stake in shares of Tronox during the first quarter worth $124,000. nVerses Capital LLC bought a new stake in shares of Tronox during the second quarter worth $121,000. Finally, TFO Wealth Partners LLC increased its position in shares of Tronox by 260,833.3% during the fourth quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock worth $111,000 after acquiring an additional 7,825 shares in the last quarter. 73.36% of the stock is currently owned by institutional investors and hedge funds.

Tronox Company Profile

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; feedstock; pig iron; monazite; titanium tetrachloride; and other products.