Barclays Lowers Kronos Worldwide (NYSE:KRO) Price Target to $7.00

Kronos Worldwide (NYSE:KRO - Get Free Report) had its target price reduced by equities researchers at Barclays from $10.00 to $7.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the specialty chemicals company's stock. Barclays's price target would indicate a potential upside of 10.41% from the stock's previous close.

A number of other equities research analysts have also weighed in on KRO. Wall Street Zen lowered Kronos Worldwide from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. The Goldman Sachs Group lowered their price objective on Kronos Worldwide from $11.00 to $8.50 and set a "sell" rating for the company in a research note on Wednesday, May 14th.

Kronos Worldwide Price Performance

Shares of Kronos Worldwide stock traded down $0.14 during midday trading on Wednesday, hitting $6.34. 227,507 shares of the company traded hands, compared to its average volume of 212,884. The firm's fifty day moving average price is $7.11 and its 200-day moving average price is $8.68. The stock has a market cap of $729.33 million, a price-to-earnings ratio of 7.83 and a beta of 1.22. Kronos Worldwide has a 12 month low of $6.19 and a 12 month high of $14.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 2.68.

Kronos Worldwide (NYSE:KRO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The company had revenue of $489.80 million during the quarter, compared to analyst estimates of $466.56 million. Kronos Worldwide had a net margin of 5.05% and a return on equity of 11.74%.

Insiders Place Their Bets

In other news, Director Kevin B. Kramer purchased 14,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $7.43 per share, for a total transaction of $104,020.00. Following the transaction, the director now owns 21,460 shares of the company's stock, valued at approximately $159,447.80. This trade represents a 187.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.11% of the company's stock.

Hedge Funds Weigh In On Kronos Worldwide

Hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. acquired a new position in shares of Kronos Worldwide in the 4th quarter valued at about $25,000. KLP Kapitalforvaltning AS bought a new stake in Kronos Worldwide in the fourth quarter worth approximately $30,000. Aquatic Capital Management LLC lifted its stake in Kronos Worldwide by 144.8% in the fourth quarter. Aquatic Capital Management LLC now owns 3,183 shares of the specialty chemicals company's stock valued at $31,000 after buying an additional 1,883 shares during the period. Quantbot Technologies LP bought a new position in shares of Kronos Worldwide during the 1st quarter worth approximately $29,000. Finally, State of Wyoming boosted its holdings in shares of Kronos Worldwide by 28.1% during the 4th quarter. State of Wyoming now owns 5,031 shares of the specialty chemicals company's stock worth $49,000 after buying an additional 1,105 shares in the last quarter. Institutional investors and hedge funds own 15.11% of the company's stock.

About Kronos Worldwide

Kronos Worldwide, Inc produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally. The company produces TiO2 in two crystalline forms, rutile and anatase to impart whiteness, brightness, opacity, and durability for various products, including paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, foods, and cosmetics.