UBS Group Lowers Tronox (NYSE:TROX) Price Target to $15.00

Tronox (NYSE:TROX) had its price target dropped by analysts at UBS Group from $16.00 to $15.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 69.01% from the company’s previous close.

Other analysts also recently issued reports about the company. Barclays decreased their target price on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Truist Financial started coverage on Tronox in a research report on Tuesday, January 28th. They set a “buy” rating and a $17.00 target price on the stock. BMO Capital Markets decreased their target price on Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. The Goldman Sachs Group decreased their target price on Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley cut their price target on Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Tronox Price Performance

Shares of Tronox stock traded down $0.96 during trading on Thursday, reaching $8.88. The company’s stock had a trading volume of 501,183 shares, compared to its average volume of 1,208,352. The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42. Tronox has a 12-month low of $8.29 and a 12-month high of $20.70. The company has a market capitalization of $1.40 billion, a P/E ratio of -18.49 and a beta of 1.60. The business has a 50 day moving average price of $10.17 and a 200-day moving average price of $12.08.

Tronox (NYSE:TROX) last posted its earnings results on Wednesday, February 12th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. As a group, sell-side analysts anticipate that Tronox will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Tronox

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of Tronox by 4.7% in the third quarter. FMR LLC now owns 23,805,227 shares of the company’s stock worth $348,270,000 after acquiring an additional 1,073,674 shares during the last quarter. Vanguard Group Inc. increased its stake in Tronox by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company’s stock valued at $127,390,000 after purchasing an additional 193,895 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Tronox by 60.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock valued at $69,869,000 after purchasing an additional 2,616,804 shares during the last quarter. Geode Capital Management LLC increased its stake in Tronox by 0.8% in the third quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock valued at $39,708,000 after purchasing an additional 22,165 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Tronox by 26.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,630,144 shares of the company’s stock valued at $26,486,000 after purchasing an additional 551,645 shares during the last quarter. 73.36% of the stock is 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.