Tronox (NYSE:TROX) Downgraded to Hold at Zacks Investment Research

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Zacks Investment Research lowered shares of Tronox (NYSE:TROX) from a buy rating to a hold rating in a report issued on Friday, 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. “

Other equities research analysts have also issued research reports about the stock. SunTrust Banks cut their target price on shares of Tronox from $20.00 to $12.00 and set a buy rating on the stock in a research note on Friday, May 8th. UBS Group lifted their price objective on Tronox from $3.50 to $5.00 and gave the company a sell rating in a research report on Friday, May 8th. Finally, ValuEngine lowered Tronox from a hold rating to a sell rating in a research report on Wednesday, April 1st. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $12.40.

Tronox stock opened at $7.03 on Friday. Tronox has a 1-year low of $3.97 and a 1-year high of $13.12. The firm has a market cap of $940.49 million, a P/E ratio of -25.11 and a beta of 3.17. The company has a current ratio of 2.37, a quick ratio of 1.21 and a debt-to-equity ratio of 4.43. The firm has a 50-day moving average of $6.99 and a 200-day moving average of $7.91.

Tronox (NYSE:TROX) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.08. Tronox had a positive return on equity of 15.41% and a negative net margin of 1.45%. The business had revenue of $722.00 million during the quarter, compared to analysts’ expectations of $720.46 million. During the same quarter last year, the business posted ($0.18) EPS. The business’s revenue was up 85.1% on a year-over-year basis. Research analysts forecast that Tronox will post 0.35 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in TROX. Bank of Montreal Can increased its stake in Tronox by 16.3% during the 4th quarter. Bank of Montreal Can now owns 22,909 shares of the company’s stock valued at $262,000 after purchasing an additional 3,213 shares in the last quarter. Norges Bank purchased a new stake in shares of Tronox during the fourth quarter valued at approximately $13,854,000. Geode Capital Management LLC grew its holdings in shares of Tronox by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 1,598,409 shares of the company’s stock valued at $18,253,000 after buying an additional 48,040 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Tronox by 44.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,885,301 shares of the company’s stock valued at $78,630,000 after purchasing an additional 2,113,741 shares during the last quarter. Finally, Arizona State Retirement System bought a new stake in shares of Tronox in the 1st quarter worth $108,000. 56.30% of the stock is currently owned by institutional investors and hedge funds.

Tronox Company Profile

Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.

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