BMO Capital Markets Cuts Tronox (NYSE:TROX) Price Target to $17.00

Tronox (NYSE:TROX) had its target price cut by equities researchers at BMO Capital Markets from $21.00 to $17.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 41.43% from the stock’s current price.

TROX has been the topic of several other reports. The Goldman Sachs Group lowered their price objective on Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. StockNews.com upgraded shares of Tronox from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and boosted their target price for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Finally, Barclays dropped their price target on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Tronox Stock Down 2.8 %

Shares of TROX stock traded down $0.34 during trading hours on Tuesday, hitting $12.02. 174,883 shares of the company’s stock traded hands, compared to its average volume of 1,119,216. The company has a quick ratio of 1.08, a current ratio of 2.98 and a debt-to-equity ratio of 1.44. The stock’s fifty day simple moving average is $13.47 and its two-hundred day simple moving average is $15.85. Tronox has a 12-month low of $10.24 and a 12-month high of $20.70. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -5.40, a PEG ratio of 26.03 and a beta of 1.64.

Tronox (NYSE:TROX) last released its earnings results on Thursday, October 24th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.30). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The company had revenue of $804.00 million during the quarter, compared to the consensus estimate of $790.63 million. During the same period last year, the firm posted ($0.08) earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. On average, analysts expect that Tronox will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tronox in the 2nd quarter worth approximately $76,000. Headlands Technologies LLC bought a new position in shares of Tronox in the second quarter worth approximately $83,000. nVerses Capital LLC purchased a new stake in shares of Tronox in the second quarter worth $121,000. SG Americas Securities LLC purchased a new position in shares of Tronox during the 1st quarter valued at $124,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Tronox by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock worth $178,000 after buying an additional 861 shares during the period. Institutional investors own 73.36% of the company’s stock.

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.