UBS Group Cuts Tronox (NYSE:TROX) Price Target to $15.00

Tronox (NYSE:TROX) had its price target trimmed by UBS Group from $16.00 to $15.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also commented on TROX. BMO Capital Markets cut their target price on Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. The Goldman Sachs Group lowered their target price on shares of Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley lowered their price objective on Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Truist Financial assumed coverage on Tronox in a research report on Tuesday, January 28th. They issued a “buy” rating and a $17.00 price target on the stock. Finally, Barclays reduced their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Tronox presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Tronox Price Performance

Shares of NYSE:TROX opened at $7.81 on Thursday. The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average price of $10.04 and a 200 day moving average price of $11.96. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -16.26 and a beta of 1.60. Tronox has a twelve month low of $7.72 and a twelve month high of $20.70.

Tronox (NYSE:TROX) last released its earnings results on Wednesday, February 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. Research analysts predict that Tronox will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Tronox

Several hedge funds have recently added to or reduced their stakes in TROX. Quantbot Technologies LP grew its position in shares of Tronox by 98.6% during the 3rd quarter. Quantbot Technologies LP now owns 174,922 shares of the company’s stock worth $2,559,000 after buying an additional 86,852 shares during the period. Royce & Associates LP raised its position in shares of Tronox by 20.8% during the 3rd quarter. Royce & Associates LP now owns 493,543 shares of the company’s stock valued at $7,221,000 after acquiring an additional 84,830 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Tronox by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock valued at $39,708,000 after purchasing an additional 22,165 shares during the period. Victory Capital Management Inc. grew its stake in shares of Tronox by 54.6% during the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock worth $22,497,000 after purchasing an additional 543,091 shares during the period. Finally, Atom Investors LP boosted its holdings in Tronox by 72.9% during the third quarter. Atom Investors LP now owns 125,790 shares of the company’s stock worth $1,840,000 after buying an additional 53,034 shares during the last quarter. 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.