Tronox (NYSE:TROX) Rating Lowered to "Underweight" at JPMorgan Chase & Co.

Key Points

• JPMorgan downgraded Tronox to “underweight” from “neutral” and set a $5 price target, implying 19.22% downside from the prior close.
• Analyst sentiment is broadly negative: Tronox has a consensus “Reduce” rating and an average price target of $6.93, with four sell ratings, four holds and two buys.
• Tronox’s shares opened at $6.19 after declining 3.1%; its latest quarterly results showed an adjusted loss of $0.51 per share, missing estimates, despite revenue rising 18.7% year over year to $868 million.

Tronox (NYSE:TROX - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a research report issued on Thursday, Marketbeat Ratings reports. They presently have a $5.00 price objective on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential downside of 19.22% from the company's previous close.

A number of other equities analysts also recently commented on TROX. The Goldman Sachs Group reduced their price objective on shares of Tronox from $9.00 to $6.50 and set a "sell" rating for the company in a research note on Wednesday, July 22nd. Truist Financial upgraded shares of Tronox from a "sell" rating to a "hold" rating and set a $7.00 target price for the company in a research report on Thursday, June 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tronox in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $10.00 target price on shares of Tronox in a research note on Wednesday, May 20th. Finally, Wall Street Zen lowered shares of Tronox from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $6.93.

Tronox Stock Down 3.1%

Shares of TROX opened at $6.19 on Thursday. The firm has a market capitalization of $987.43 million, a P/E ratio of -1.79 and a beta of 0.82. The company has a current ratio of 2.55, a quick ratio of 0.81 and a debt-to-equity ratio of 2.62. Tronox has a 12-month low of $2.86 and a 12-month high of $10.59. The firm has a fifty day moving average price of $6.57 and a 200-day moving average price of $7.57.

Tronox (NYSE:TROX - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.51) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.13). Tronox had a negative return on equity of 24.34% and a negative net margin of 17.96%.The company had revenue of $868.00 million for the quarter, compared to analysts' expectations of $832.59 million. During the same period last year, the business posted ($0.28) earnings per share. The business's revenue was up 18.7% compared to the same quarter last year. Equities research analysts expect that Tronox will post -1.27 earnings per share for the current year.

Institutional Investors Weigh In On Tronox

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in shares of Tronox by 292.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,715 shares of the company's stock worth $36,000 after purchasing an additional 6,493 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tronox during the third quarter worth $37,000. Headlands Technologies LLC acquired a new stake in Tronox in the 2nd quarter valued at about $38,000. Aigen Investment Management LP acquired a new position in Tronox during the 4th quarter worth approximately $43,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Tronox in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 73.36% of the company's stock.

About Tronox

Tronox Holdings plc is a vertically integrated global producer of titanium dioxide (TiO₂) pigment and specialty materials. The company's operations encompass the full supply chain for TiO₂, from mining and processing titanium-bearing ores—such as ilmenite and rutile—to the production of high-purity pigment for use in paints, coatings, plastics, paper and other industrial applications. In addition to TiO₂, Tronox's product portfolio includes zircon, rare earth byproducts and other specialty minerals that serve a range of industrial markets.

Tronox operates a network of mines, processing facilities and pigment plants located across North America, Europe, the Middle East, Australia and South Africa.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source