Tronox (NYSE:TROX) Price Target Raised to $24.00

Tronox (NYSE:TROX - Get Free Report) had its target price boosted by equities research analysts at BMO Capital Markets from $19.00 to $24.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' target price would indicate a potential upside of 27.39% from the company's current price.

Other equities analysts also recently issued reports about the company. StockNews.com upgraded Tronox from a "sell" rating to a "hold" rating in a research report on Friday, April 26th. UBS Group raised their price objective on Tronox from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $15.33.

Tronox Price Performance

Tronox stock traded down $0.34 during trading hours on Friday, hitting $18.84. The stock had a trading volume of 1,566,586 shares, compared to its average volume of 1,183,202. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.84 and a quick ratio of 0.95. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -8.59, a PEG ratio of 23.00 and a beta of 1.91. Tronox has a 1-year low of $10.08 and a 1-year high of $19.75. The stock's fifty day moving average is $16.51 and its two-hundred day moving average is $14.13.

Tronox (NYSE:TROX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.06). The company had revenue of $774.00 million for the quarter, compared to analyst estimates of $753.98 million. Tronox had a negative net margin of 11.93% and a negative return on equity of 2.70%. The firm's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 EPS. As a group, analysts predict that Tronox will post 0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tronox

Hedge funds have recently modified their holdings of the stock. Millburn Ridgefield Corp acquired a new stake in Tronox during the 3rd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in Tronox during the 3rd quarter valued at approximately $25,000. GAMMA Investing LLC acquired a new stake in Tronox during the 4th quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale acquired a new stake in Tronox during the 3rd quarter valued at approximately $50,000. Finally, TFO Wealth Partners LLC grew its stake in Tronox by 260,833.3% during the 4th quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company's stock valued at $111,000 after purchasing an additional 7,825 shares in the last quarter. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

About Tronox

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.

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