Tronox (NYSE:TROX) Price Target Raised to $24.00

Tronox (NYSE:TROX) had its price objective hoisted by equities researchers at BMO Capital Markets from $19.00 to $24.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 27.39% from the company’s current price.

A number of other equities research analysts have also recently weighed in on TROX. UBS Group raised their price target on Tronox from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. StockNews.com raised Tronox from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.33.

Tronox Price Performance

Shares of TROX traded down $0.34 during mid-day trading on Friday, reaching $18.84. The company had a trading volume of 1,566,586 shares, compared to its average volume of 1,183,202. Tronox has a twelve month low of $10.08 and a twelve month high of $19.75. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.84 and a quick ratio of 0.95. The company’s 50-day moving average is $16.51 and its 200-day moving average is $14.13. The company has a market capitalization of $2.95 billion, a P/E ratio of -8.59, a P/E/G ratio of 23.00 and a beta of 1.91.

Tronox (NYSE:TROX) last issued its earnings results on Wednesday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). Tronox had a negative return on equity of 2.70% and a negative net margin of 11.93%. The company had revenue of $774.00 million during the quarter, compared to analyst estimates of $753.98 million. During the same period in the previous year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that Tronox will post 0.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TROX. Allspring Global Investments Holdings LLC boosted its position in shares of 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 purchasing an additional 861 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Tronox by 2.8% in the 3rd quarter. Arizona State Retirement System now owns 33,469 shares of the company’s stock worth $450,000 after purchasing an additional 923 shares during the last quarter. Natixis Advisors L.P. boosted its position in shares of Tronox by 4.9% in the 3rd quarter. Natixis Advisors L.P. now owns 20,471 shares of the company’s stock worth $275,000 after purchasing an additional 959 shares during the last quarter. Millburn Ridgefield Corp bought a new position in shares of Tronox in the 3rd quarter worth $25,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Tronox in the 3rd quarter worth $25,000. 73.36% of the stock is currently owned by institutional investors.

About Tronox

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.