Morgan Stanley Issues Pessimistic Forecast for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its price objective decreased by research analysts at Morgan Stanley from $12.00 to $8.00 in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 50.01% from the company’s previous close.

Several other brokerages have also commented on TROX. The Goldman Sachs Group reduced their price objective on Tronox from $13.00 to $11.50 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. UBS Group reduced their price target on Tronox from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Truist Financial lowered their price objective on Tronox from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Mizuho cut their target price on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.07.

Tronox Stock Performance

Shares of TROX opened at $5.33 on Monday. The company has a current ratio of 2.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54. The stock has a 50-day moving average price of $6.21 and a 200-day moving average price of $9.07. The company has a market cap of $842.28 million, a PE ratio of -17.20 and a beta of 1.40. Tronox has a 12-month low of $4.35 and a 12-month high of $20.70.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. The company had revenue of $738.00 million during the quarter, compared to the consensus estimate of $745.96 million. During the same period in the previous year, the company earned ($0.05) EPS. Tronox’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, equities analysts forecast that Tronox will post 0.49 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Stephen J. Jones purchased 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were bought at an average price of $7.17 per share, for a total transaction of $215,100.00. Following the purchase, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $215,100. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tronox

Hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its position in shares of Tronox by 60.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock worth $69,869,000 after purchasing an additional 2,616,804 shares during the last quarter. Lightrock Netherlands B.V. purchased a new position in Tronox in the fourth quarter worth about $9,183,000. Capital International Investors lifted its stake in shares of Tronox by 14.8% in the fourth quarter. Capital International Investors now owns 6,060,943 shares of the company’s stock worth $61,034,000 after buying an additional 781,223 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Tronox by 26.5% during 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 buying an additional 551,645 shares during the last quarter. Finally, Aristotle Capital Boston LLC increased its position in shares of Tronox by 121.8% during the fourth quarter. Aristotle Capital Boston LLC now owns 951,277 shares of the company’s stock valued at $9,579,000 after acquiring an additional 522,412 shares in the last quarter. 73.36% of the stock is owned by institutional investors.

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.