Tronox (NYSE:TROX) Lowered to “Hold” at Zacks Investment Research

Tronox (NYSE:TROXGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Tronox Holdings plc is a vertically integrated mining and inorganic chemical business. The company mines and processes titanium ore, zircon and other minerals and manufactures titanium dioxide pigments to paints, plastics, paper and other everyday products. It operates primarily in South Africa, Australia, United States, the Netherlands and Australia. Tronox Holdings plc, formerly known as Tronox Limited, is based in London, United Kingdom. “

TROX has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reduced their target price on Tronox from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, February 25th. StockNews.com assumed coverage on Tronox in a research report on Thursday, March 31st. They set a “buy” rating for the company. UBS Group reduced their target price on Tronox from $32.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, January 4th. Finally, Barclays upped their target price on Tronox from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, February 18th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Tronox presently has an average rating of “Buy” and a consensus price target of $27.43.

NYSE TROX opened at $18.82 on Tuesday. Tronox has a one year low of $15.54 and a one year high of $26.33. The firm has a market cap of $2.90 billion, a P/E ratio of 10.46, a P/E/G ratio of 0.80 and a beta of 2.18. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.49 and a quick ratio of 1.22. The stock’s 50-day moving average is $19.74 and its 200-day moving average is $22.32.

Tronox (NYSE:TROXGet Rating) last announced its quarterly earnings data on Wednesday, February 16th. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $884.00 million for the quarter, compared to the consensus estimate of $859.39 million. Tronox had a return on equity of 18.39% and a net margin of 8.01%. Tronox’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. Equities analysts anticipate that Tronox will post 3.06 EPS for the current year.

In other Tronox news, SVP Jeffrey N. Neuman bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 9th. The stock was bought at an average cost of $17.17 per share, for a total transaction of $51,510.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Flood sold 3,700 shares of the business’s stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $16.13, for a total transaction of $59,681.00. The disclosure for this sale can be found here. Insiders sold 183,012 shares of company stock worth $2,955,570 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Tronox during the 4th quarter worth approximately $28,245,000. Millennium Management LLC boosted its position in shares of Tronox by 130.4% during the 4th quarter. Millennium Management LLC now owns 1,935,631 shares of the company’s stock worth $46,513,000 after purchasing an additional 1,095,514 shares during the period. LSV Asset Management boosted its position in shares of Tronox by 399.4% during the 4th quarter. LSV Asset Management now owns 1,191,604 shares of the company’s stock worth $28,634,000 after purchasing an additional 952,988 shares during the period. Marshall Wace LLP boosted its position in shares of Tronox by 168.6% during the 4th quarter. Marshall Wace LLP now owns 1,205,696 shares of the company’s stock worth $28,973,000 after purchasing an additional 756,737 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of Tronox by 157.3% during the 3rd quarter. Two Sigma Investments LP now owns 1,180,332 shares of the company’s stock worth $29,095,000 after purchasing an additional 721,587 shares during the period. 66.50% of the stock is owned by institutional investors.

Tronox Company Profile (Get Rating)

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; titanium tetrachloride; and other products.

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