Mizuho Issues Pessimistic Forecast for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its price objective reduced by equities researchers at Mizuho from $6.00 to $5.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price suggests a potential downside of 6.63% from the stock’s current price.

A number of other brokerages also recently issued reports on TROX. UBS Group decreased their price target on Tronox from $8.50 to $8.00 and set a “buy” rating for the company in a report on Wednesday, July 9th. Wall Street Zen lowered Tronox from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. BMO Capital Markets downgraded Tronox from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $7.00 to $3.00 in a report on Monday, June 30th. Barclays dropped their price target on shares of Tronox from $13.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. raised shares of Tronox from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $5.00 to $7.00 in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Tronox has a consensus rating of “Hold” and a consensus price target of $7.06.

Tronox Stock Up 1.8%

Shares of NYSE:TROX opened at $5.36 on Tuesday. Tronox has a fifty-two week low of $4.35 and a fifty-two week high of $17.45. The firm’s 50 day moving average price is $5.45 and its 200 day moving average price is $6.91. The company has a quick ratio of 0.61, a current ratio of 2.28 and a debt-to-equity ratio of 1.61. The stock has a market cap of $848.55 million, a price-to-earnings ratio of -5.64 and a beta of 1.37.

Tronox (NYSE:TROX) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The firm had revenue of $738.00 million during the quarter, compared to analysts’ expectations of $745.96 million. Tronox had a negative net margin of 4.94% and a negative return on equity of 1.57%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. As a group, equities research analysts predict that Tronox will post 0.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tronox news, SVP Jeffrey N. Neuman bought 10,266 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $4.89 per share, for a total transaction of $50,200.74. Following the completion of the transaction, the senior vice president owned 10,266 shares in the company, valued at approximately $50,200.74. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Tronox

Several institutional investors and hedge funds have recently bought and sold shares of TROX. Vanguard Group Inc. lifted its position in Tronox by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company’s stock worth $127,390,000 after acquiring an additional 193,895 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Tronox by 60.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock valued at $69,869,000 after purchasing an additional 2,616,804 shares during the period. Capital International Investors raised its stake in shares of Tronox by 14.8% during the fourth quarter. Capital International Investors now owns 6,060,943 shares of the company’s stock worth $61,034,000 after purchasing an additional 781,223 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of Tronox by 2.5% during the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,868,837 shares of the company’s stock worth $20,197,000 after purchasing an additional 69,726 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Tronox by 15.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,832,510 shares of the company’s stock worth $19,941,000 after purchasing an additional 375,643 shares during the period. Hedge funds and other 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.