BMO Capital Markets Trims Tronox (NYSE:TROX) Target Price to $21.00

Tronox (NYSE:TROX) had its price target reduced by equities research analysts at BMO Capital Markets from $22.00 to $21.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 49.68% from the stock’s previous close.

A number of other analysts also recently commented on TROX. StockNews.com upgraded Tronox from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Mizuho assumed coverage on Tronox in a research note on Friday, June 7th. They issued a “neutral” rating and a $22.00 price target on the stock. The Goldman Sachs Group dropped their price target on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Barclays dropped their price target on shares of Tronox from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Finally, UBS Group dropped their price objective on shares of Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Tronox has a consensus rating of “Hold” and an average target price of $17.67.

Tronox Stock Down 4.1 %

TROX stock opened at $14.03 on Monday. The company has a fifty day moving average price of $13.65 and a 200 day moving average price of $16.29. Tronox has a 12 month low of $10.08 and a 12 month high of $20.70. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -6.30, a price-to-earnings-growth ratio of 27.07 and a beta of 1.64. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.98 and a quick ratio of 1.08.

Tronox (NYSE:TROX) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). The firm had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $848.04 million. Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS. Sell-side analysts expect that Tronox will post 0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Investors raised its position in shares of Tronox by 2.7% in the first quarter. Capital International Investors now owns 4,757,130 shares of the company’s stock valued at $82,536,000 after purchasing an additional 126,926 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of Tronox by 109.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,646,916 shares of the company’s stock worth $41,530,000 after acquiring an additional 1,381,975 shares during the period. Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of Tronox by 2.9% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,426,486 shares of the company’s stock worth $38,072,000 after acquiring an additional 68,155 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Tronox by 0.8% during the 2nd quarter. Primecap Management Co. CA now owns 1,311,700 shares of the company’s stock worth $20,581,000 after acquiring an additional 10,000 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Tronox by 3.7% during the 1st quarter. Bridgeway Capital Management LLC now owns 1,280,255 shares of the company’s stock worth $22,212,000 after acquiring an additional 45,992 shares during the period. 73.36% of the stock is currently owned by institutional investors and hedge funds.

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.