Tronox (NYSE:TROX) Given New $30.00 Price Target at JPMorgan Chase & Co.

Tronox (NYSE:TROX) had its target price upped by research analysts at JPMorgan Chase & Co. from $26.00 to $30.00 in a report released on Wednesday, The Fly reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 21.80% from the company’s previous close. The analysts noted that the move was a valuation call.

Other equities analysts also recently issued reports about the stock. Bank of America assumed coverage on shares of Tronox in a research note on Thursday, May 20th. They issued a “buy” rating and a $28.00 target price for the company. Zacks Investment Research raised shares of Tronox from a “sell” rating to a “hold” rating in a research note on Tuesday, August 17th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $26.75.

NYSE:TROX traded up $0.71 on Wednesday, reaching $24.63. The stock had a trading volume of 104,048 shares, compared to its average volume of 1,652,747. The company has a market capitalization of $3.78 billion, a P/E ratio of 3.48 and a beta of 2.63. Tronox has a 1-year low of $7.61 and a 1-year high of $25.48. The company has a quick ratio of 1.47, a current ratio of 2.76 and a debt-to-equity ratio of 1.42. The stock has a fifty day moving average price of $19.53 and a 200-day moving average price of $20.45.

Tronox (NYSE:TROX) last released its quarterly earnings results on Wednesday, July 28th. The company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.11. The firm had revenue of $927.00 million for the quarter, compared to analyst estimates of $921.43 million. Tronox had a net margin of 31.53% and a return on equity of 10.66%. Sell-side analysts predict that Tronox will post 2.34 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of Tronox by 1.4% during the second quarter. FMR LLC now owns 13,592,962 shares of the company’s stock worth $304,482,000 after buying an additional 183,216 shares during the last quarter. Vanguard Group Inc. increased its stake in Tronox by 7.9% in the second quarter. Vanguard Group Inc. now owns 11,144,749 shares of the company’s stock valued at $249,643,000 after purchasing an additional 811,955 shares in the last quarter. BlackRock Inc. increased its stake in Tronox by 2.2% in the second quarter. BlackRock Inc. now owns 8,011,080 shares of the company’s stock valued at $179,448,000 after purchasing an additional 175,080 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Tronox by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,888,807 shares of the company’s stock valued at $131,887,000 after purchasing an additional 200,611 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Tronox by 3.6% in the second quarter. Goldman Sachs Group Inc. now owns 4,304,082 shares of the company’s stock valued at $96,412,000 after purchasing an additional 148,922 shares in the last quarter. 66.55% of the stock is owned by institutional investors and hedge funds.

Tronox Company Profile

Tronox Holdings Plc engages in the mining and inorganic chemical business. Its products include Titanium Dioxide Mineral Sands. The firm also mines and processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments. The company was founded in 2006 and is headquartered in Stamford, CT.

See Also: How To Calculate Debt-to-Equity Ratio

The Fly logo

Receive News & Ratings for Tronox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tronox and related companies with MarketBeat.com's FREE daily email newsletter.