Tronox (NYSE:TROX) Given New $8.00 Price Target at Barclays

Tronox (NYSE:TROX - Get Free Report) had its price objective cut by analysts at Barclays from $13.00 to $8.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price objective points to a potential upside of 40.35% from the company's previous close.

A number of other analysts have also issued reports on TROX. Mizuho lowered their price target on Tronox from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Morgan Stanley decreased their target price on Tronox from $12.00 to $8.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. The Goldman Sachs Group dropped their price target on Tronox from $11.50 to $7.50 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. BMO Capital Markets restated a "market perform" rating and set a $7.00 price target (down previously from $13.00) on shares of Tronox in a research note on Wednesday, May 7th. Finally, Truist Financial decreased their price objective on Tronox from $14.00 to $10.00 and set a "buy" rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $8.31.

Tronox Trading Up 11.8%

Shares of NYSE:TROX traded up $0.60 on Wednesday, hitting $5.70. 8,164,640 shares of the company's stock were exchanged, compared to its average volume of 1,671,033. The stock has a market capitalization of $903.23 million, a price-to-earnings ratio of -18.39 and a beta of 1.40. Tronox has a 12 month low of $4.35 and a 12 month high of $20.70. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90. The business's 50 day simple moving average is $5.48 and its two-hundred day simple moving average is $8.18.

Tronox (NYSE:TROX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). The company had revenue of $738.00 million during the quarter, compared to analysts' expectations of $745.96 million. Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. The company's quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. Analysts anticipate that Tronox will post 0.49 EPS for the current fiscal year.

Insider Activity at Tronox

In other news, SVP Jeffrey N. Neuman bought 10,266 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average price of $4.89 per share, for a total transaction of $50,200.74. Following the completion of the transaction, the senior vice president now directly owns 10,266 shares in the company, valued at approximately $50,200.74. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen J. Jones purchased 30,000 shares of Tronox stock in a transaction on Tuesday, March 18th. The shares were acquired at an average cost of $7.17 per share, with a total value of $215,100.00. Following the completion of the transaction, the director now directly owns 30,000 shares in the company, valued at $215,100. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by insiders.

Institutional Trading of Tronox

A number of hedge funds and other institutional investors have recently made changes to their positions in TROX. Sterling Capital Management LLC grew its position in Tronox by 832.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,805 shares of the company's stock worth $38,000 after purchasing an additional 3,397 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Tronox by 763.5% in the first quarter. Nisa Investment Advisors LLC now owns 9,127 shares of the company's stock worth $65,000 after buying an additional 8,070 shares during the last quarter. KBC Group NV grew its holdings in Tronox by 59.4% during the fourth quarter. KBC Group NV now owns 6,949 shares of the company's stock worth $70,000 after acquiring an additional 2,590 shares during the period. CWM LLC raised its position in Tronox by 1,186.7% during the first quarter. CWM LLC now owns 10,731 shares of the company's stock valued at $76,000 after acquiring an additional 9,897 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Tronox by 1,070.2% during the first quarter. GAMMA Investing LLC now owns 11,257 shares of the company's stock valued at $79,000 after acquiring an additional 10,295 shares in the last quarter. Institutional investors and hedge funds own 73.36% of the company's stock.

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.