Barclays Has Lowered Expectations for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX - Get Free Report) had its price objective lowered by research analysts at Barclays from $13.00 to $8.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target would indicate a potential upside of 57.05% from the stock's previous close.

TROX has been the subject of several other research reports. The Goldman Sachs Group lowered their price objective on shares of Tronox from $11.50 to $7.50 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Truist Financial decreased their price target on shares of Tronox from $14.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Mizuho cut their price objective on shares of Tronox from $11.00 to $9.00 and set a "neutral" rating on the stock in a research 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. Finally, UBS Group dropped their price target on Tronox from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Tronox currently has a consensus rating of "Hold" and an average target price of $8.50.

Tronox Stock Performance

Shares of TROX stock traded up $0.27 on Wednesday, hitting $5.09. The company's stock had a trading volume of 5,142,970 shares, compared to its average volume of 1,638,230. Tronox has a fifty-two week low of $4.35 and a fifty-two week high of $20.70. The company has a market capitalization of $807.21 million, a PE ratio of -16.43 and a beta of 1.40. The stock's 50 day moving average is $5.51 and its 200-day moving average is $8.24. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 2.47.

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

Insider Activity

In other Tronox news, Director Stephen J. Jones bought 30,000 shares of Tronox stock in a transaction dated Tuesday, March 18th. The shares were purchased at an average cost of $7.17 per share, with a total value of $215,100.00. Following the completion of the purchase, the director now owns 30,000 shares of the company's stock, valued at approximately $215,100. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jeffrey N. Neuman purchased 10,266 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average cost of $4.89 per share, with a total value of $50,200.74. Following the completion of the purchase, the senior vice president now owns 10,266 shares of the company's stock, valued at $50,200.74. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Tronox

Several institutional investors and hedge funds have recently modified their holdings of TROX. Sterling Capital Management LLC increased its holdings in shares of Tronox by 832.6% in 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 in the last quarter. KBC Group NV boosted its position in shares of Tronox by 59.4% during the fourth quarter. KBC Group NV now owns 6,949 shares of the company's stock valued at $70,000 after buying an additional 2,590 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Tronox by 763.5% in the 1st 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 in the last quarter. Mariner LLC bought a new stake in Tronox in the 4th quarter worth about $105,000. Finally, CWM LLC raised its position in Tronox by 1,186.7% in the 1st quarter. CWM LLC now owns 10,731 shares of the company's stock worth $76,000 after buying an additional 9,897 shares during the last quarter. 73.36% of the stock is currently 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.