UBS Group Lowers Tronox (NYSE:TROX) Price Target to $8.00

Tronox (NYSE:TROX - Get Free Report) had its price target lowered by equities researchers at UBS Group from $8.50 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price target indicates a potential upside of 41.79% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Truist Financial lowered their price objective on shares of Tronox from $14.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Barclays decreased their price objective on Tronox from $13.00 to $8.00 and set an "overweight" rating for the company in a research report on Wednesday, May 28th. The Goldman Sachs Group reduced their price target on shares of Tronox from $11.50 to $7.50 and set a "buy" rating for the company in a research report on Tuesday, May 6th. BMO Capital Markets lowered shares of Tronox from a "market perform" rating to an "underperform" rating and reduced their price target for the stock from $7.00 to $3.00 in a research report on Monday, June 30th. Finally, JPMorgan Chase & Co. raised shares of Tronox from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $5.00 to $7.00 in a research report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Tronox currently has an average rating of "Hold" and an average price target of $7.56.

Tronox Trading Down 1.4%

Shares of TROX traded down $0.08 during midday trading on Wednesday, hitting $5.64. The stock had a trading volume of 499,429 shares, compared to its average volume of 1,814,439. Tronox has a fifty-two week low of $4.35 and a fifty-two week high of $17.45. The business has a 50-day simple moving average of $5.44 and a two-hundred day simple moving average of $7.05. The firm has a market cap of $894.03 million, a P/E ratio of -5.93 and a beta of 1.37. The company has a current ratio of 2.28, a quick ratio of 0.61 and a debt-to-equity ratio of 1.61.

Tronox (NYSE:TROX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). Tronox had a negative net margin of 4.94% and a negative return on equity of 1.57%. The firm had revenue of $738.00 million during the quarter, compared to analysts' expectations of $745.96 million. During the same quarter last year, the company posted ($0.05) EPS. The firm's revenue was down 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Tronox will post 0.49 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Tronox

Several institutional investors have recently bought and sold shares of TROX. Charles Schwab Investment Management Inc. raised its holdings in Tronox by 11.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,456,867 shares of the company's stock valued at $24,741,000 after buying an additional 244,646 shares in the last quarter. Atria Investments Inc bought a new stake in Tronox during the fourth quarter worth approximately $112,000. Raymond James Financial Inc. bought a new stake in Tronox during the fourth quarter worth approximately $701,000. First Eagle Investment Management LLC boosted its position in Tronox by 20.6% during the fourth quarter. First Eagle Investment Management LLC now owns 1,026,040 shares of the company's stock worth $10,332,000 after purchasing an additional 175,200 shares during the period. Finally, Royce & Associates LP boosted its position in Tronox by 16.2% during the fourth quarter. Royce & Associates LP now owns 573,603 shares of the company's stock worth $5,776,000 after purchasing an additional 80,060 shares during the period. 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.