Tronox (NYSE:TROX) Stock Rating Lowered by UBS Group

Key Points

• UBS Group downgraded Tronox (NYSE:TROX) from a "buy" rating to a "neutral" rating, setting a price target of $3.60, which implies a potential upside of 6.19%.
• Goldman Sachs has lowered its target price for Tronox from $11.50 to $7.50, while other analysts have similarly adjusted their ratings, indicating a consensus rating of "Hold".
• Tronox recently reported a quarterly EPS of ($0.28), significantly missing analysts' expectations, with a 10.9% decline in revenue compared to the previous year.

Tronox (NYSE:TROX - Get Free Report) was downgraded by equities research analysts at UBS Group from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Monday, Marketbeat reports. They presently have a $3.60 price target on the stock. UBS Group's price target indicates a potential upside of 6.19% from the stock's current price.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group dropped their target price on Tronox from $11.50 to $7.50 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen lowered Tronox from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Barclays reduced their target price on Tronox from $13.00 to $8.00 and set an "overweight" rating for the company in a research note on Wednesday, May 28th. Truist Financial reduced their price objective on Tronox from $14.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley reduced their price objective on Tronox from $12.00 to $8.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Tronox currently has a consensus rating of "Hold" and a consensus target price of $6.51.

Tronox Trading Up 6.3%

Shares of NYSE TROX opened at $3.39 on Monday. 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 50 day moving average price is $5.43 and its 200-day moving average price is $6.51. Tronox has a fifty-two week low of $2.95 and a fifty-two week high of $15.07. The company has a market cap of $537.19 million, a price-to-earnings ratio of -2.15 and a beta of 1.35.

Tronox (NYSE:TROX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.24). The firm had revenue of $731.00 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 earnings per share. On average, sell-side analysts expect that Tronox will post 0.49 earnings per share for the current year.

Insider Buying and Selling at Tronox

In other Tronox news, CEO John D. Romano bought 100,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average price of $3.09 per share, with a total value of $309,000.00. Following the completion of the acquisition, the chief executive officer directly owned 1,333,485 shares of the company's stock, valued at $4,120,468.65. This represents a 8.11% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeffrey A. Engle bought 12,600 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost of $3.07 per share, for a total transaction of $38,682.00. Following the acquisition, the senior vice president directly owned 146,926 shares of the company's stock, valued at $451,062.82. The trade was a 9.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 122,866 shares of company stock valued at $397,883 over the last quarter. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tronox

Several large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tronox during the first quarter worth about $102,000. Deutsche Bank AG grew its holdings in shares of Tronox by 52.8% in the 4th quarter. Deutsche Bank AG now owns 101,764 shares of the company's stock worth $1,025,000 after acquiring an additional 35,146 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Tronox by 36.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 32,936 shares of the company's stock worth $232,000 after purchasing an additional 8,777 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Tronox by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company's stock worth $127,390,000 after purchasing an additional 193,895 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Tronox during the 4th quarter worth approximately $254,000. Institutional investors and hedge funds 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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