Barclays Trims Tronox (NYSE:TROX) Target Price to $18.00

Tronox (NYSE:TROX) had its price target cut by Barclays from $19.00 to $18.00 in a research note released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also issued reports on the company. StockNews.com upgraded Tronox from a sell rating to a hold rating in a research note on Monday, August 5th. 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 note on Thursday, September 19th. UBS Group cut their target price 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. Finally, Mizuho assumed coverage on shares of Tronox in a research note on Friday, June 7th. They issued a neutral rating and a $22.00 target price for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tronox currently has an average rating of Hold and a consensus price target of $18.17.

Tronox Stock Performance

NYSE TROX opened at $14.50 on Wednesday. The company has a market capitalization of $2.29 billion, a PE ratio of -6.50, a price-to-earnings-growth ratio of 25.62 and a beta of 1.64. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.08 and a current ratio of 2.98. Tronox has a 52-week low of $10.08 and a 52-week high of $20.70. The company has a 50-day simple moving average of $13.68 and a 200 day simple moving average of $16.30.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.11). Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The company had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $848.04 million. During the same quarter in the previous year, the business earned $0.16 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts predict that Tronox will post 0.44 EPS for the current year.

Tronox Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, August 26th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Monday, August 26th. Tronox’s payout ratio is presently -22.42%.

Institutional Trading of Tronox

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Tronox by 22.2% during the fourth quarter. Principal Financial Group Inc. now owns 75,445 shares of the company’s stock valued at $1,068,000 after buying an additional 13,689 shares during the period. Norges Bank bought a new stake in shares of Tronox during the 4th quarter valued at about $7,760,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Tronox during the fourth quarter worth about $702,000. TFO Wealth Partners LLC increased its position in shares of Tronox by 260,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock worth $111,000 after purchasing an additional 7,825 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in Tronox in the fourth quarter valued at approximately $277,000. 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.