Tronox (NYSE:TROX) PT Lowered to $18.00

Tronox (NYSE:TROX) had its price objective decreased by equities researchers at The Goldman Sachs Group from $21.00 to $18.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 39.10% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. StockNews.com upgraded Tronox from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Mizuho started coverage on shares of Tronox in a research report on Friday, June 7th. They issued a “neutral” rating and a $22.00 price objective for the company. UBS Group reduced their target price on shares of Tronox from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Barclays lowered their price target on shares of Tronox from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Tronox currently has a consensus rating of “Hold” and an average target price of $18.67.

Tronox Price Performance

TROX opened at $12.94 on Tuesday. Tronox has a 52-week low of $10.08 and a 52-week high of $20.70. The company has a 50 day moving average of $14.87 and a two-hundred day moving average of $16.59. The company has a market cap of $2.04 billion, a P/E ratio of -5.80, a P/E/G ratio of 26.01 and a beta of 1.64. The company has a quick ratio of 1.08, a current ratio of 2.98 and a debt-to-equity ratio of 1.44.

Tronox (NYSE:TROX) last announced its quarterly 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). Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $848.04 million. During the same period last year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts expect that Tronox will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On Tronox

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors acquired a new position in Tronox in the first quarter worth about $19,152,000. Primecap Management Co. CA grew its position in shares of Tronox by 7.9% in the 4th quarter. Primecap Management Co. CA now owns 1,234,700 shares of the company’s stock worth $17,483,000 after acquiring an additional 90,500 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Tronox by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,951,090 shares of the company’s stock valued at $27,627,000 after acquiring an additional 127,718 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Tronox by 16.5% during the 4th quarter. Franklin Resources Inc. now owns 6,185,221 shares of the company’s stock valued at $87,583,000 after acquiring an additional 876,192 shares in the last quarter. Finally, Capital International Investors lifted its stake in Tronox by 2.7% during the first quarter. Capital International Investors now owns 4,757,130 shares of the company’s stock worth $82,536,000 after purchasing an additional 126,926 shares during the last quarter. Institutional investors own 73.36% of the company’s stock.

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.