Tronox (NYSE:TROX) Given New $12.00 Price Target at Morgan Stanley

Tronox (NYSE:TROX) had its price target dropped by stock analysts at Morgan Stanley from $16.00 to $12.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 33.63% from the stock’s current price.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group reduced their target price on shares of Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. BMO Capital Markets reduced their target price on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. UBS Group raised shares of Tronox from a “neutral” rating to a “buy” rating and upped their target price for the stock from $17.00 to $19.00 in a research report on Thursday, October 10th. 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 report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Tronox Price Performance

TROX stock traded down $0.09 during midday trading on Monday, reaching $8.98. The company had a trading volume of 493,944 shares, compared to its average volume of 1,131,852. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90. Tronox has a 1 year low of $8.73 and a 1 year high of $20.70. The company has a market capitalization of $1.42 billion, a P/E ratio of -18.71 and a beta of 1.62. The firm has a 50-day moving average price of $11.00 and a 200-day moving average price of $13.03.

Tronox (NYSE:TROX) last issued its quarterly earnings data on Thursday, October 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The company had revenue of $804.00 million for the quarter, compared to analysts’ expectations of $790.63 million. Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. On average, research analysts anticipate that Tronox will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Tronox

Institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP lifted its stake in Tronox by 98.6% during the 3rd quarter. Quantbot Technologies LP now owns 174,922 shares of the company’s stock valued at $2,559,000 after acquiring an additional 86,852 shares during the period. Royce & Associates LP lifted its stake in 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 period. Geode Capital Management LLC lifted its stake in Tronox by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock valued at $39,708,000 after acquiring an additional 22,165 shares during the period. Algert Global LLC lifted its stake in Tronox by 127.2% during the 2nd quarter. Algert Global LLC now owns 309,051 shares of the company’s stock valued at $4,849,000 after acquiring an additional 173,054 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Tronox by 54.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock valued at $22,497,000 after acquiring an additional 543,091 shares during the period. 73.36% of the stock is owned by hedge funds and other institutional investors.

About Tronox

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.