Tronox (NYSE:TROX) Downgraded to “Sell” at ValuEngine

ValuEngine lowered shares of Tronox (NYSE:TROX) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, ValuEngine reports.

A number of other analysts have also recently issued reports on TROX. Morgan Stanley set a $15.00 target price on Tronox and gave the stock a hold rating in a report on Wednesday, June 19th. Alembic Global Advisors set a $19.00 target price on Tronox and gave the stock a buy rating in a report on Friday, May 10th. Zacks Investment Research upgraded Tronox from a sell rating to a hold rating and set a $10.00 target price for the company in a report on Tuesday. Finally, SunTrust Banks boosted their target price on Tronox from $17.00 to $20.00 and gave the stock a buy rating in a report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $15.00.

Shares of NYSE:TROX traded down $0.40 during trading on Thursday, reaching $8.61. 1,659,200 shares of the stock were exchanged, compared to its average volume of 1,542,852. The company has a debt-to-equity ratio of 4.80, a quick ratio of 4.72 and a current ratio of 5.82. Tronox has a 12-month low of $6.46 and a 12-month high of $16.75. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 15.38 and a beta of 3.29. The company has a 50-day moving average price of $11.58.

Tronox (NYSE:TROX) last issued its earnings results on Tuesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.17. Tronox had a positive return on equity of 5.58% and a negative net margin of 4.60%. The business had revenue of $791.00 million during the quarter, compared to analysts’ expectations of $776.00 million. During the same quarter in the previous year, the business earned $0.31 EPS. The company’s revenue for the quarter was up 60.8% on a year-over-year basis. On average, analysts expect that Tronox will post 0.43 earnings per share for the current fiscal year.

In other Tronox news, CFO Timothy C. Carlson bought 9,615 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of $10.40 per share, with a total value of $99,996.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Wayne A. Hinman bought 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $8.80 per share, for a total transaction of $44,000.00. Following the completion of the transaction, the director now owns 152,455 shares in the company, valued at $1,341,604. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 34,027 shares of company stock worth $349,315. 1.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Optimum Investment Advisors acquired a new position in shares of Tronox in the 1st quarter valued at approximately $39,000. Quantamental Technologies LLC acquired a new position in shares of Tronox in the 1st quarter valued at approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tronox by 26.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,882 shares of the company’s stock valued at $75,000 after purchasing an additional 1,244 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Tronox in the 1st quarter valued at approximately $92,000. Finally, PARK CIRCLE Co acquired a new position in shares of Tronox in the 2nd quarter valued at approximately $96,000. 56.58% of the stock is currently owned by institutional investors.

About Tronox

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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