The Goldman Sachs Group Lowers Tronox (NYSE:TROX) Price Target to $4.50

Key Points

• The Goldman Sachs Group has lowered Tronox's price target from $7.00 to $4.50, while maintaining a "buy" rating, suggesting a potential upside of 39.10%.
• Other analysts have also cut their price targets for Tronox, with Morgan Stanley setting a target of $4.00 and Barclays at $8.00, indicating varying outlooks within the investment community.
• CEO John D. Romano and SVP Jeffrey A. Engle purchased shares of Tronox, signaling insider confidence despite the recent stock price volatility.

Tronox (NYSE:TROX - Get Free Report) had its target price reduced by investment analysts at The Goldman Sachs Group from $7.00 to $4.50 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 39.10% from the company's current price.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley decreased their price objective on Tronox from $8.00 to $4.00 and set an "equal weight" rating for the company in a report on Wednesday. Barclays reduced their price target on Tronox from $13.00 to $8.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th. Truist Financial set a $5.00 price target on Tronox in a research report on Monday. Mizuho decreased their price target on Tronox from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, BMO Capital Markets lowered Tronox from a "market perform" rating to an "underperform" rating and cut their price objective for the company from $7.00 to $3.00 in a report on Monday, June 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $5.01.

Tronox Stock Up 0.2%

TROX stock traded up $0.01 during midday trading on Thursday, reaching $3.24. 2,631,334 shares of the company's stock traded hands, compared to its average volume of 2,876,760. The company has a market cap of $512.62 million, a price-to-earnings ratio of -2.05 and a beta of 1.35. The firm's fifty day moving average price is $5.33 and its 200-day moving average price is $6.42. The company has a quick ratio of 0.52, a current ratio of 2.10 and a debt-to-equity ratio of 1.64. Tronox has a 52 week low of $2.95 and a 52 week high of $15.07.

Tronox (NYSE:TROX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.24). Tronox had a negative net margin of 8.48% and a negative return on equity of 4.83%. The firm had revenue of $731.00 million for the quarter, compared to analysts' expectations of $802.03 million. During the same period in the prior year, the firm earned $0.07 EPS. Tronox's revenue for the quarter was down 10.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Tronox will post 0.49 earnings per share for the current fiscal year.

Insider Transactions at Tronox

In related news, CEO John D. Romano purchased 100,000 shares of Tronox stock in a transaction on Friday, August 1st. The shares were purchased at an average price of $3.09 per share, for a total transaction of $309,000.00. Following the transaction, the chief executive officer owned 1,333,485 shares of the company's stock, valued at approximately $4,120,468.65. This represents a 8.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jeffrey A. Engle acquired 12,600 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $3.07 per share, with a total value of $38,682.00. Following the acquisition, the senior vice president owned 146,926 shares of the company's stock, valued at approximately $451,062.82. This represents a 9.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 125,600 shares of company stock valued at $390,002 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Tronox

Institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC grew its position in shares of Tronox by 832.6% during the fourth 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. Nisa Investment Advisors LLC boosted its holdings in shares of 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 purchasing an additional 8,070 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Tronox by 48.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,844 shares of the company's stock valued at $50,000 after acquiring an additional 3,231 shares during the period. Mariner LLC bought a new stake in Tronox during the 4th quarter valued at $105,000. Finally, CWM LLC raised its position in shares of 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 acquiring an additional 9,897 shares in the last quarter. Institutional investors 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.

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