Citigroup Downgrades Venator Materials (NYSE:VNTR) to Neutral

Venator Materials (NYSE:VNTR) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat.com reports. They presently have a $4.50 price objective on the stock, down from their prior price objective of $7.50. Citigroup‘s price target points to a potential upside of 3.45% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Morgan Stanley reissued an “overweight” rating on shares of in a research report on Wednesday, June 19th. Royal Bank of Canada reissued a “neutral” rating and issued a $145.00 price objective on shares of Travelers Companies in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Venator Materials has a consensus rating of “Hold” and an average price target of $14.77.

Shares of VNTR opened at $4.35 on Friday. The company has a market capitalization of $451.14 million, a price-to-earnings ratio of 1.98, a PEG ratio of 0.65 and a beta of 2.35. The company has a 50-day moving average of $4.91. Venator Materials has a fifty-two week low of $3.59 and a fifty-two week high of $17.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.18 and a quick ratio of 1.15.

Venator Materials (NYSE:VNTR) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.03. The company had revenue of $562.00 million for the quarter, compared to analyst estimates of $561.44 million. Venator Materials had a negative net margin of 11.07% and a positive return on equity of 15.64%. The company’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. As a group, sell-side analysts expect that Venator Materials will post 0.62 EPS for the current year.

In other Venator Materials news, Director Kathy Dawn Patrick purchased 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average cost of $4.47 per share, for a total transaction of $46,935.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP grew its stake in shares of Venator Materials by 116.2% in the fourth quarter. Two Sigma Investments LP now owns 1,412,962 shares of the company’s stock valued at $5,920,000 after acquiring an additional 759,495 shares in the last quarter. UBS Oconnor LLC acquired a new position in shares of Venator Materials in the fourth quarter valued at about $1,257,000. Norges Bank acquired a new position in shares of Venator Materials in the fourth quarter valued at about $5,982,000. Clearbridge Investments LLC grew its stake in shares of Venator Materials by 3.4% in the first quarter. Clearbridge Investments LLC now owns 2,762,543 shares of the company’s stock valued at $15,525,000 after acquiring an additional 91,270 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Venator Materials by 229.2% in the fourth quarter. Legal & General Group Plc now owns 34,958 shares of the company’s stock valued at $146,000 after acquiring an additional 24,339 shares in the last quarter. Institutional investors and hedge funds own 44.08% of the company’s stock.

About Venator Materials

Venator Materials PLC manufactures and markets chemical products worldwide. It operates through two segments, Titanium Dioxide and Performance Additives. The Titanium Dioxide segment offers titanium dioxide (TiO2), such as rutile, anatase, and nano TiO2 products for use in coatings, plastics, paper, printing inks, fibers, and food and personal care products.

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Analyst Recommendations for Venator Materials (NYSE:VNTR)

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