Tronox (NYSE:TROX) Stock Rating Upgraded by JPMorgan Chase & Co.

Tronox (NYSE:TROX) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a $7.00 target price on the stock, up from their previous target price of $5.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 37.42% from the stock’s current price.

Several other brokerages also recently weighed in on TROX. Truist Financial decreased their target price on Tronox from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, April 14th. UBS Group cut their price target on Tronox from $11.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Morgan Stanley reduced their price objective on Tronox from $12.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. Wall Street Zen downgraded shares of Tronox from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Finally, Mizuho cut their target price on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tronox presently has a consensus rating of “Hold” and an average price target of $8.31.

Tronox Price Performance

NYSE TROX opened at $5.09 on Friday. Tronox has a 1 year low of $4.35 and a 1 year high of $20.70. The company has a fifty day simple moving average of $5.51 and a 200 day simple moving average of $8.24. The company has a current ratio of 2.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54. The company has a market cap of $807.21 million, a P/E ratio of -16.43 and a beta of 1.40.

Tronox (NYSE:TROX) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The firm had revenue of $738.00 million for the quarter, compared to the consensus estimate of $745.96 million. Tronox had a negative net margin of 1.56% and a negative return on equity of 0.63%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) earnings per share. On average, sell-side analysts predict that Tronox will post 0.49 EPS for the current year.

Insider Buying and Selling

In other Tronox news, SVP Jeffrey N. Neuman bought 10,266 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $4.89 per share, with a total value of $50,200.74. Following the completion of the purchase, the senior vice president now directly owns 10,266 shares in the company, valued at $50,200.74. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen J. Jones purchased 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was acquired at an average cost of $7.17 per share, with a total value of $215,100.00. Following the transaction, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $215,100. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tronox

Several hedge funds and other institutional investors have recently modified their holdings of TROX. Jane Street Group LLC grew its position in Tronox by 93.2% in the first quarter. Jane Street Group LLC now owns 118,637 shares of the company’s stock valued at $835,000 after acquiring an additional 57,237 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Tronox by 12.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 366,203 shares of the company’s stock valued at $2,578,000 after acquiring an additional 41,092 shares during the period. Empowered Funds LLC boosted its stake in shares of Tronox by 1.6% in the 1st quarter. Empowered Funds LLC now owns 739,720 shares of the company’s stock valued at $5,208,000 after purchasing an additional 11,438 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Tronox by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,574 shares of the company’s stock worth $497,000 after purchasing an additional 3,042 shares during the last quarter. Finally, Invenomic Capital Management LP grew its holdings in shares of Tronox by 114.9% in the 1st quarter. Invenomic Capital Management LP now owns 450,882 shares of the company’s stock worth $3,174,000 after purchasing an additional 241,024 shares during the last quarter. Institutional investors own 73.36% of the company’s stock.

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.