Tronox (NYSE:TROX) Given New $6.00 Price Target at Truist Financial

Key Points

• Truist Financial has raised its price target for Tronox (TROX) from $5.00 to $6.00, maintaining a "buy" rating, which implies a potential upside of 21.09% from the previous close.
• Other analysts have mixed views on Tronox, with BMO Capital Markets downgrading it to "underperform" with a target of $3.00, while Alembic Global Advisors reissued an "overweight" rating at $6.00.
• Insider trading activity shows that Director Jean Francois Turgeon acquired 31,150 shares at an average price of $3.21, increasing his stake significantly, while corporate insiders own 1.70% of the company.

Tronox (NYSE:TROX - Get Free Report) had its target price lifted by Truist Financial from $5.00 to $6.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price points to a potential upside of 21.09% from the company's previous close.

A number of other research firms also recently weighed in on TROX. BMO Capital Markets downgraded Tronox from a "market perform" rating to an "underperform" rating and decreased their target price for the stock from $7.00 to $3.00 in a research report on Monday, June 30th. Alembic Global Advisors reissued an "overweight" rating and set a $6.00 target price on shares of Tronox in a research report on Monday. UBS Group downgraded Tronox from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $8.00 to $3.60 in a research report on Monday, August 4th. Morgan Stanley decreased their target price on Tronox from $8.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Finally, Barclays decreased their target price on Tronox from $13.00 to $8.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $5.12.

Tronox Stock Performance

Shares of Tronox stock traded up $0.02 during trading on Tuesday, reaching $4.96. The company's stock had a trading volume of 672,281 shares, compared to its average volume of 3,025,515. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.52 and a current ratio of 2.10. The business's fifty day moving average price is $4.52 and its 200-day moving average price is $5.37. The firm has a market cap of $785.49 million, a price-to-earnings ratio of -3.16 and a beta of 1.32. Tronox has a one year low of $2.95 and a one year high of $15.07.

Tronox (NYSE:TROX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.24). The business had revenue of $731.00 million during the quarter, compared to the consensus estimate of $802.03 million. Tronox had a negative return on equity of 4.83% and a negative net margin of 8.48%.The company's revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Tronox has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Tronox will post 0.49 earnings per share for the current year.

Insider Activity at Tronox

In related news, Director Jean Francois Turgeon acquired 31,150 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were bought at an average cost of $3.21 per share, with a total value of $99,991.50. Following the completion of the acquisition, the director owned 772,572 shares of the company's stock, valued at $2,479,956.12. This trade represents a 4.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen J. Jones bought 8,000 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was purchased at an average price of $3.19 per share, with a total value of $25,520.00. Following the purchase, the director directly owned 51,000 shares of the company's stock, valued at $162,690. The trade was a 18.60% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 184,750 shares of company stock valued at $579,714. Corporate insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Primecap Management Co. CA raised its stake in shares of Tronox by 192.2% in the second quarter. Primecap Management Co. CA now owns 4,252,502 shares of the company's stock valued at $21,560,000 after acquiring an additional 2,797,002 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. raised its stake in shares of Tronox by 2.5% in the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,868,837 shares of the company's stock valued at $20,197,000 after acquiring an additional 69,726 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Tronox by 15.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,832,510 shares of the company's stock valued at $19,941,000 after acquiring an additional 375,643 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tronox by 1.1% in the second quarter. Geode Capital Management LLC now owns 2,826,014 shares of the company's stock valued at $14,329,000 after acquiring an additional 31,538 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Tronox by 97.4% in the second quarter. Marshall Wace LLP now owns 2,587,831 shares of the company's stock valued at $13,120,000 after acquiring an additional 1,277,175 shares during the last quarter. Institutional investors own 73.36% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.