Zacks Investment Research upgraded shares of Tronox (NYSE:TROX) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $8.00 price target on the stock.
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. “
TROX has been the topic of a number of other research reports. ValuEngine downgraded shares of Tronox from a hold rating to a sell rating in a report on Wednesday, April 1st. UBS Group raised their price target on shares of Tronox from $3.50 to $5.00 and gave the company a sell rating in a report on Friday, May 8th. Finally, SunTrust Banks cut their price target on shares of Tronox from $20.00 to $12.00 and set a buy rating on the stock in a report on Friday, May 8th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $12.40.
Shares of NYSE:TROX opened at $7.03 on Friday. The firm has a fifty day moving average of $6.99 and a two-hundred day moving average of $7.90. The firm has a market capitalization of $996.42 million, a P/E ratio of -25.11 and a beta of 3.17. Tronox has a 12-month low of $3.97 and a 12-month high of $13.12. The company has a quick ratio of 1.21, a current ratio of 2.37 and a debt-to-equity ratio of 4.43.
Tronox (NYSE:TROX) last issued its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08. The company had revenue of $722.00 million during the quarter, compared to analyst estimates of $720.46 million. Tronox had a negative net margin of 1.45% and a positive return on equity of 15.41%. The company’s revenue for the quarter was up 85.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.18) EPS. Equities research analysts expect that Tronox will post 0.35 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP bought a new position in Tronox in the 1st quarter worth $30,000. Royal Bank of Canada raised its holdings in Tronox by 3,838.5% in the 1st quarter. Royal Bank of Canada now owns 7,877 shares of the company’s stock worth $39,000 after acquiring an additional 7,677 shares during the period. Heritage Investors Management Corp bought a new position in Tronox in the 1st quarter worth $57,000. Comerica Bank bought a new position in shares of Tronox during the 1st quarter worth about $63,000. Finally, PARK CIRCLE Co increased its holdings in shares of Tronox by 100.0% during the 1st quarter. PARK CIRCLE Co now owns 15,000 shares of the company’s stock worth $75,000 after purchasing an additional 7,500 shares during the period. Hedge funds and other institutional investors own 56.30% of the company’s stock.
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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