UBS Group Has Lowered Expectations for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its target price lowered by stock analysts at UBS Group from $4.50 to $2.75 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group‘s price objective suggests a potential downside of 1.96% from the stock’s current price.

Other analysts also recently issued reports about the company. Truist Financial reduced their price objective on Tronox from $7.00 to $4.00 and set a “hold” rating on the stock in a research report on Tuesday, October 20th. Mizuho dropped their price objective on Tronox from $5.50 to $4.50 and set an “underperform” rating for the company in a research report on Wednesday, September 30th. Zacks Research cut Tronox from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. raised shares of Tronox from an “underweight” rating to a “neutral” rating in a research note on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tronox in a report on Wednesday, November 4th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $5.04.

Tronox Price Performance

TROX stock traded down $0.04 on Wednesday, reaching $2.81. The company had a trading volume of 2,598,253 shares, compared to its average volume of 3,106,534. Tronox has a 1 year low of $2.41 and a 1 year high of $10.59. The company has a debt-to-equity ratio of 2.70, a quick ratio of 0.81 and a current ratio of 2.52. The company’s fifty day moving average is $3.86 and its 200 day moving average is $6.51. The company has a market cap of $447.96 million, a P/E ratio of -0.88 and a beta of 0.98.

Tronox (NYSE:TROX) last announced its earnings results on Wednesday, November 4th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.13). The company had revenue of $827.00 million for the quarter, compared to analyst estimates of $854.43 million. Tronox had a negative net margin of 15.86% and a negative return on equity of 25.02%. Tronox’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.46) EPS. On average, research analysts forecast that Tronox will post -1.49 earnings per share for the current year.

Insiders Place Their Bets

In other Tronox news, Director Peter Johnston purchased 20,000 shares of Tronox stock in a transaction on Monday, November 9th. The shares were bought at an average price of $2.63 per share, with a total value of $52,600.00. Following the purchase, the director directly owned 224,461 shares in the company, valued at $590,332.43. This trade represents a 9.78% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tronox

A number of hedge funds and other institutional investors have recently made changes to their positions in TROX. Squarepoint Ops LLC acquired a new position in Tronox in the second quarter valued at $4,355,000. Renaissance Technologies LLC acquired a new stake in Tronox in the 1st quarter worth about $2,102,000. Royal Bank of Canada boosted its stake in Tronox by 21,419.9% in the 1st quarter. Royal Bank of Canada now owns 1,065,665 shares of the company’s stock worth $10,412,000 after buying an additional 1,060,713 shares during the last quarter. Shah Capital Management grew its holdings in Tronox by 13.4% in the 3rd quarter. Shah Capital Management now owns 2,915,807 shares of the company’s stock valued at $11,517,000 after buying an additional 344,993 shares during the period. Finally, Jennison Associates LLC purchased a new stake in Tronox in the 1st quarter valued at about $850,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Company Profile

Tronox Holdings plc is a vertically integrated producer of titanium dioxide (TiO₂) pigment and mineral-sands products. Its operations span the value chain from mining titanium-bearing mineral sands to processing them into feedstocks and finished products. The company’s products include TiO₂ pigment, used to add whiteness, brightness and opacity to paints, coatings, plastics and other materials. Tronox also produces titanium feedstocks such as chloride-grade slag and synthetic rutile, as well as zircon, which is used in ceramics and other applications.