Tronox (NYSE:TROX) Given New $24.00 Price Target at Morgan Stanley

Tronox (NYSE:TROX) had its target price lifted by investment analysts at Morgan Stanley from $22.00 to $24.00 in a note issued to investors on Monday, Price Targets.com reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 6.24% from the company’s previous close.

Separately, Zacks Investment Research cut Tronox from a “buy” rating to a “hold” rating in a research note on Friday, February 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.60.

Shares of NYSE TROX opened at $22.59 on Monday. The business’s 50 day moving average price is $19.40 and its two-hundred day moving average price is $15.86. The company has a market cap of $3.41 billion, a PE ratio of 3.55 and a beta of 2.65. The company has a quick ratio of 1.85, a current ratio of 3.38 and a debt-to-equity ratio of 2.03. Tronox has a twelve month low of $5.68 and a twelve month high of $22.62.

Tronox (NYSE:TROX) last issued its quarterly earnings data on Wednesday, April 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.16. Tronox had a return on equity of 7.18% and a net margin of 34.63%. The company had revenue of $891.00 million during the quarter, compared to analysts’ expectations of $845.69 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business’s revenue was up 23.4% on a year-over-year basis. As a group, research analysts anticipate that Tronox will post 0.53 EPS for the current fiscal year.

In other Tronox news, CEO Jean Francois Turgeon sold 17,575 shares of the company’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $18.34, for a total transaction of $322,325.50. Following the completion of the sale, the chief executive officer now directly owns 533,358 shares in the company, valued at $9,781,785.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeffrey N. Neuman sold 16,237 shares of the company’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $18.33, for a total value of $297,624.21. Following the sale, the senior vice president now owns 133,164 shares of the company’s stock, valued at $2,440,896.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,801 shares of company stock valued at $898,745. 2.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NEXT Financial Group Inc bought a new stake in Tronox during the fourth quarter worth $37,000. Advisory Services Network LLC acquired a new position in shares of Tronox during the fourth quarter worth $44,000. Allworth Financial LP acquired a new position in shares of Tronox during the first quarter worth $73,000. Nisa Investment Advisors LLC increased its holdings in shares of Tronox by 34.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,500 shares of the company’s stock worth $80,000 after buying an additional 1,400 shares in the last quarter. Finally, IFP Advisors Inc acquired a new position in shares of Tronox during the first quarter worth $106,000. Hedge funds and other institutional investors own 54.25% 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 beneficiation and smelting operations. Its products include TiO2, zircon, and pig iron, as well as feedstock and other products comprising rutile prime, ilmenite, chloride slag, and other mining products.

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