Wall Street Zen Downgrades Kronos Worldwide (NYSE:KRO) to Sell

Key Points

• Kronos Worldwide has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a negative outlook on the stock.
• Goldman Sachs and Barclays both reduced their price targets for Kronos Worldwide to $8.50 and $7.00 respectively, further cementing the negative sentiment.
• The stock is currently down 2.5%, with a current price of $4.87 and a 52-week range between $4.70 and $12.98.

Kronos Worldwide (NYSE:KRO - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Other equities analysts also recently issued reports about the stock. Barclays dropped their price target on shares of Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 28th. The Goldman Sachs Group lowered their target price on shares of Kronos Worldwide from $11.00 to $8.50 and set a "sell" rating on the stock in a research report on Wednesday, May 14th.

Kronos Worldwide Stock Up 5.2%

NYSE:KRO traded up $0.29 during trading hours on Friday, hitting $5.83. 180,779 shares of the stock traded hands, compared to its average volume of 236,561. Kronos Worldwide has a fifty-two week low of $4.70 and a fifty-two week high of $12.98. The company has a current ratio of 2.79, a quick ratio of 1.04 and a debt-to-equity ratio of 0.59. The firm has a market cap of $670.74 million, a price-to-earnings ratio of 10.05 and a beta of 1.09. The firm has a 50 day moving average price of $6.14 and a 200 day moving average price of $7.23.

Kronos Worldwide (NYSE:KRO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The specialty chemicals company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.21). Kronos Worldwide had a return on equity of 8.04% and a net margin of 3.57%. The company had revenue of $494.40 million during the quarter, compared to analyst estimates of $508.47 million.

Hedge Funds Weigh In On Kronos Worldwide

Several hedge funds have recently bought and sold shares of KRO. Dimensional Fund Advisors LP boosted its holdings in Kronos Worldwide by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,165,098 shares of the specialty chemicals company's stock valued at $30,859,000 after acquiring an additional 109,674 shares during the period. Boston Partners boosted its holdings in Kronos Worldwide by 60.0% during the second quarter. Boston Partners now owns 2,521,452 shares of the specialty chemicals company's stock valued at $15,630,000 after acquiring an additional 945,556 shares during the period. Vanguard Group Inc. boosted its holdings in Kronos Worldwide by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,217,961 shares of the specialty chemicals company's stock valued at $21,625,000 after acquiring an additional 13,869 shares during the period. Renaissance Technologies LLC boosted its holdings in Kronos Worldwide by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 734,230 shares of the specialty chemicals company's stock valued at $7,159,000 after acquiring an additional 31,830 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Kronos Worldwide by 2.4% during the second quarter. Geode Capital Management LLC now owns 527,839 shares of the specialty chemicals company's stock valued at $3,273,000 after acquiring an additional 12,260 shares during the period. 15.11% of the stock is owned by institutional investors and hedge funds.

Kronos Worldwide Company Profile

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.