Tronox (NYSE:TROX) Upgraded to Hold at Truist Financial

Tronox (NYSE:TROX) was upgraded by stock analysts at Truist Financial from a “sell” rating to a “hold” rating in a note issued to investors on Thursday,Benzinga reports. The firm presently has a $7.00 price objective on the stock. Truist Financial’s target price indicates a potential downside of 1.89% from the stock’s previous close.

A number of other brokerages have also recently weighed in on TROX. UBS Group upped their price objective on Tronox from $7.50 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft set a $10.00 target price on Tronox in a research note on Wednesday, May 20th. The Goldman Sachs Group lowered Tronox from a “buy” rating to a “sell” rating and set a $9.00 target price on the stock. in a research note on Tuesday, May 12th. BMO Capital Markets reiterated a “market perform” rating on shares of Tronox in a research note on Friday, February 20th. Finally, Zacks Research raised shares of Tronox from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $6.63.

Tronox Price Performance

TROX opened at $7.14 on Thursday. Tronox has a 12-month low of $2.86 and a 12-month high of $10.59. The company has a current ratio of 2.42, a quick ratio of 0.66 and a debt-to-equity ratio of 2.36. The business’s fifty day simple moving average is $8.77 and its 200-day simple moving average is $6.97. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -2.44 and a beta of 0.76.

Tronox (NYSE:TROX) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.07). Tronox had a negative return on equity of 19.93% and a negative net margin of 15.82%.The firm had revenue of $760.00 million for the quarter, compared to the consensus estimate of $751.38 million. During the same period in the previous year, the company posted ($0.15) EPS. Tronox’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Tronox will post -1.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tronox

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in Tronox by 292.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,715 shares of the company’s stock worth $36,000 after acquiring an additional 6,493 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Tronox in the third quarter worth about $37,000. Headlands Technologies LLC acquired a new stake in Tronox in the second quarter worth about $38,000. Westview Management dba Westview Investment Advisors acquired a new stake in Tronox in the fourth quarter worth about $42,000. Finally, Aigen Investment Management LP acquired a new stake in Tronox in the fourth quarter worth about $43,000. Institutional investors and hedge funds own 73.36% of the company’s stock.

Tronox Company Profile

Tronox Holdings plc is a vertically integrated global producer of titanium dioxide (TiO₂) pigment and specialty materials. The company’s operations encompass the full supply chain for TiO₂, from mining and processing titanium-bearing ores—such as ilmenite and rutile—to the production of high-purity pigment for use in paints, coatings, plastics, paper and other industrial applications. In addition to TiO₂, Tronox’s product portfolio includes zircon, rare earth byproducts and other specialty minerals that serve a range of industrial markets.

Tronox operates a network of mines, processing facilities and pigment plants located across North America, Europe, the Middle East, Australia and South Africa.