Morgan Stanley Has Lowered Expectations for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its target price dropped by analysts at Morgan Stanley from $16.00 to $12.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 22.82% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. UBS Group upgraded Tronox from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $19.00 in a research report on Thursday, October 10th. BMO Capital Markets cut their price objective on Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. The Goldman Sachs Group decreased their target price on shares of Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays cut their price target on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Tronox Price Performance

Shares of NYSE TROX opened at $9.77 on Monday. The stock has a fifty day moving average price of $10.95 and a 200 day moving average price of $12.99. Tronox has a 1-year low of $8.73 and a 1-year high of $20.70. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90. The company has a market cap of $1.54 billion, a PE ratio of -20.35 and a beta of 1.62.

Tronox (NYSE:TROX) last released its earnings results on Thursday, October 24th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.30). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The firm had revenue of $804.00 million during the quarter, compared to analyst estimates of $790.63 million. During the same quarter last year, the business posted ($0.08) EPS. The firm’s revenue was up 21.5% on a year-over-year basis. Sell-side analysts forecast that Tronox will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Tronox

Several institutional investors and hedge funds have recently made changes to their positions in TROX. Public Employees Retirement System of Ohio purchased a new stake in shares of Tronox in the third quarter valued at about $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Tronox during the 2nd quarter worth approximately $76,000. Headlands Technologies LLC purchased a new stake in Tronox in the 2nd quarter valued at approximately $83,000. nVerses Capital LLC grew its holdings in Tronox by 35.1% during the 3rd quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock valued at $152,000 after buying an additional 2,700 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in Tronox during the third quarter worth $190,000. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

About Tronox

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.