UBS Group Has Lowered Expectations for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX - Get Free Report) had its target price decreased by equities researchers at UBS Group from $8.50 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 40.60% from the stock's previous close.

Other equities analysts have also issued reports about the company. BMO Capital Markets lowered Tronox from a "market perform" rating to an "underperform" rating and reduced their price objective for the company from $7.00 to $3.00 in a research note on Monday, June 30th. Barclays reduced their price objective on Tronox from $13.00 to $8.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. Wall Street Zen lowered Tronox from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. raised Tronox from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $5.00 to $7.00 in a research note on Friday, May 30th. Finally, The Goldman Sachs Group reduced their price objective on Tronox from $11.50 to $7.50 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $7.56.

Tronox Trading Down 0.5%

NYSE:TROX traded down $0.03 during mid-day trading on Wednesday, reaching $5.69. The company's stock had a trading volume of 1,733,912 shares, compared to its average volume of 1,821,386. The company's fifty day simple moving average is $5.44 and its two-hundred day simple moving average is $7.02. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.28 and a quick ratio of 0.61. Tronox has a twelve month low of $4.35 and a twelve month high of $17.45. The stock has a market cap of $901.64 million, a P/E ratio of -5.99 and a beta of 1.37.

Tronox (NYSE:TROX - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $738.00 million during the quarter, compared to analyst estimates of $745.96 million. Tronox had a negative return on equity of 1.57% and a negative net margin of 4.94%. The firm's quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. On average, equities analysts predict that Tronox will post 0.49 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Jeffrey N. Neuman purchased 10,266 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was purchased at an average price of $4.89 per share, for a total transaction of $50,200.74. Following the acquisition, the senior vice president directly owned 10,266 shares in the company, valued at $50,200.74. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tronox

Institutional investors and hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans raised its position in shares of Tronox by 60.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company's stock valued at $69,869,000 after purchasing an additional 2,616,804 shares in the last quarter. Nuveen LLC acquired a new position in shares of Tronox in the 1st quarter valued at approximately $17,268,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Tronox during the 1st quarter valued at approximately $6,765,000. Capital International Investors raised its position in shares of Tronox by 14.8% during the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company's stock valued at $61,034,000 after acquiring an additional 781,223 shares in the last quarter. Finally, Lightrock Netherlands B.V. raised its position in shares of Tronox by 82.7% during the 1st quarter. Lightrock Netherlands B.V. now owns 1,657,579 shares of the company's stock valued at $11,689,000 after acquiring an additional 750,145 shares in the last quarter. Hedge funds and other 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.