Tronox (NYSE:TROX) had its price target hoisted by equities researchers at Morgan Stanley from $22.00 to $24.00 in a research note issued to investors on Monday, Analyst Price Targets reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate 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 report on Friday, February 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $13.60.
Tronox stock opened at $22.59 on Monday. The stock has a market cap of $3.41 billion, a PE ratio of 3.55 and a beta of 2.65. The stock has a 50-day moving average price of $19.40 and a 200 day moving average price of $15.86. Tronox has a 52 week low of $5.68 and a 52 week high of $22.62. The company has a current ratio of 3.38, a quick ratio of 1.85 and a debt-to-equity ratio of 2.03.
Tronox (NYSE:TROX) last posted its quarterly earnings data on Wednesday, April 28th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.16. The firm had revenue of $891.00 million during the quarter, compared to analysts’ expectations of $845.69 million. Tronox had a return on equity of 7.18% and a net margin of 34.63%. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. On average, equities analysts predict that Tronox will post 0.53 EPS for the current year.
In other news, 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 transaction of $297,624.21. Following the completion of the sale, the senior vice president now directly owns 133,164 shares of the company’s stock, valued at $2,440,896.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Timothy C. Carlson sold 14,989 shares of the company’s stock in a transaction on Monday, March 8th. The shares were sold at an average price of $18.60, for a total value of $278,795.40. Following the sale, the chief financial officer now directly owns 263,410 shares of the company’s stock, valued at $4,899,426. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,801 shares of company stock valued at $898,745. Insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TROX. Van ECK Associates Corp lifted its holdings in shares of Tronox by 49.6% during the third quarter. Van ECK Associates Corp now owns 875,230 shares of the company’s stock valued at $6,888,000 after purchasing an additional 290,020 shares during the last quarter. Virtu Financial LLC acquired a new position in Tronox during the third quarter valued at $122,000. New York State Teachers Retirement System acquired a new position in Tronox during the fourth quarter valued at $110,000. Strs Ohio acquired a new position in Tronox during the fourth quarter valued at $559,000. Finally, Nisa Investment Advisors LLC raised its position in Tronox by 34.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,500 shares of the company’s stock valued at $80,000 after buying an additional 1,400 shares during the period. 54.25% of the stock is owned by institutional investors and hedge funds.
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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