Tronox (NYSE:TROX) Given New $8.50 Price Target at UBS Group

Tronox (NYSE:TROX - Get Free Report) had its price objective cut by equities researchers at UBS Group from $10.00 to $8.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price target points to a potential upside of 44.56% from the stock's current price.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Tronox from a "neutral" rating to an "overweight" rating and upped their price target for the company from $5.00 to $7.00 in a research note on Friday, May 30th. Barclays lowered their target price on shares of Tronox from $13.00 to $8.00 and set an "overweight" rating on the stock in a report on Wednesday, May 28th. Wall Street Zen cut Tronox from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Truist Financial reduced their price target on Tronox from $14.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group dropped their price objective on Tronox from $11.50 to $7.50 and set a "buy" rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $8.13.

Tronox Stock Performance

Shares of TROX stock traded up $0.16 during midday trading on Wednesday, hitting $5.88. 1,794,327 shares of the company were exchanged, compared to its average volume of 1,710,596. Tronox has a 52 week low of $4.35 and a 52 week high of $20.29. The firm has a market capitalization of $931.76 million, a P/E ratio of -18.97 and a beta of 1.40. The firm's 50 day moving average price is $5.34 and its two-hundred day moving average price is $7.99. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 2.47.

Tronox (NYSE:TROX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.17). The firm had revenue of $738.00 million for the quarter, compared to the consensus estimate of $745.96 million. Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. The company's revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. As a group, equities research analysts anticipate that Tronox will post 0.49 earnings per share for the current year.

Insider Activity at Tronox

In other news, SVP Jeffrey N. Neuman acquired 10,266 shares of Tronox stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $4.89 per share, for a total transaction of $50,200.74. Following the transaction, the senior vice president now directly owns 10,266 shares of the company's stock, valued at approximately $50,200.74. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen J. Jones bought 30,000 shares of the stock in a transaction on Tuesday, March 18th. The stock was purchased at an average cost of $7.17 per share, with a total value of $215,100.00. Following the acquisition, the director now owns 30,000 shares in the company, valued at approximately $215,100. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by insiders.

Institutional Trading of Tronox

Several hedge funds and other institutional investors have recently made changes to their positions in TROX. Sterling Capital Management LLC boosted its position in Tronox by 832.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,805 shares of the company's stock worth $38,000 after buying an additional 3,397 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Tronox by 763.5% during the first 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. KBC Group NV grew its stake in shares of Tronox by 59.4% in the fourth quarter. KBC Group NV now owns 6,949 shares of the company's stock worth $70,000 after purchasing an additional 2,590 shares during the last quarter. CWM LLC increased its holdings in Tronox by 1,186.7% in the first quarter. CWM LLC now owns 10,731 shares of the company's stock valued at $76,000 after purchasing an additional 9,897 shares during the period. Finally, GAMMA Investing LLC raised its position in Tronox by 1,070.2% during the 1st quarter. GAMMA Investing LLC now owns 11,257 shares of the company's stock worth $79,000 after purchasing an additional 10,295 shares during the last quarter. 73.36% of the stock is currently owned by 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.