Morgan Stanley Analysts Give Tronox (TROX) a $16.00 Price Target

Tronox (OTCMKTS:TROX) has been assigned a $16.00 price target by equities researchers at Morgan Stanley in a research note issued on Tuesday. The firm currently has a “hold” rating on the basic materials company’s stock. Morgan Stanley’s target price would suggest a potential upside of 30.08% from the company’s current price.

Several other research firms have also issued reports on TROX. Zacks Investment Research lowered Tronox from a “buy” rating to a “hold” rating in a report on Thursday, June 14th. SunTrust Banks started coverage on Tronox in a report on Tuesday, July 31st. They issued a “buy” rating and a $24.00 target price for the company. BMO Capital Markets reduced their target price on Tronox from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, August 7th. Finally, Barclays reduced their target price on Tronox to $24.00 and set an “overweight” rating for the company in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $25.10.

Shares of TROX opened at $12.30 on Tuesday. Tronox has a 52 week low of $12.25 and a 52 week high of $28.40.

Tronox (OTCMKTS:TROX) last issued its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $492.00 million for the quarter, compared to the consensus estimate of $497.24 million. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) earnings per share.

In other news, SVP Jeffrey N. Neuman acquired 4,500 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The shares were acquired at an average price of $16.76 per share, for a total transaction of $75,420.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Daniel Blue sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $15.66, for a total value of $156,600.00. Following the completion of the transaction, the director now owns 69,795 shares in the company, valued at approximately $1,092,989.70. The disclosure for this sale can be found here.

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in shares of Tronox during the first quarter worth $185,000. Quantum Capital Management purchased a new stake in shares of Tronox during the second quarter worth $201,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Tronox during the first quarter worth $206,000. Verition Fund Management LLC purchased a new stake in shares of Tronox during the first quarter worth $215,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Tronox during the first quarter worth $256,000.

Tronox Company Profile

Tronox Limited is engaged in production and marketing of titanium bearing mineral sands and titanium dioxide pigment (TiO2). The Company’s TiO2 products are critical components of everyday applications, such as coatings, plastics, paper and other applications. The Company’s mineral sands business consists primarily of two product streams: titanium feedstock and zircon.

Further Reading: Outstanding Shares

Analyst Recommendations for Tronox (OTCMKTS:TROX)

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