Tronox (NYSE:TROX) Rating Lowered to Strong Sell at ValuEngine

ValuEngine downgraded shares of Tronox (NYSE:TROX) from a sell rating to a strong sell rating in a report issued on Wednesday morning, ValuEngine reports.

A number of other research analysts have also recently issued reports on TROX. TheStreet cut Tronox from a c- rating to a d+ rating in a report on Friday, October 11th. Alembic Global Advisors reissued a buy rating and set a $19.00 price objective on shares of Tronox in a report on Monday, December 2nd. Finally, Zacks Investment Research raised Tronox from a hold rating to a strong-buy rating and set a $13.00 price objective for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $16.67.

TROX traded down $0.15 during trading on Wednesday, reaching $11.85. 38,563 shares of the company’s stock were exchanged, compared to its average volume of 1,296,204. Tronox has a fifty-two week low of $6.71 and a fifty-two week high of $15.50. The company has a quick ratio of 1.62, a current ratio of 3.26 and a debt-to-equity ratio of 3.80. The business has a 50 day moving average price of $11.33 and a 200 day moving average price of $9.99. The company has a market capitalization of $1.72 billion, a P/E ratio of 21.11 and a beta of 3.49.

Tronox (NYSE:TROX) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.06. The firm had revenue of $768.00 million for the quarter, compared to the consensus estimate of $797.64 million. Tronox had a negative net margin of 4.79% and a positive return on equity of 6.56%. The business’s revenue was up 68.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 earnings per share. As a group, research analysts forecast that Tronox will post 0.45 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new position in shares of Tronox during the second quarter valued at $43,000. Quantum Capital Management bought a new position in shares of Tronox in the third quarter valued at about $32,000. Public Employees Retirement Association of Colorado bought a new position in shares of Tronox in the third quarter valued at about $88,000. BBVA USA Bancshares Inc. raised its holdings in shares of Tronox by 8.1% in the third quarter. BBVA USA Bancshares Inc. now owns 16,414 shares of the company’s stock valued at $136,000 after buying an additional 1,223 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Tronox by 73.7% in the second quarter. Bank of Montreal Can now owns 18,361 shares of the company’s stock valued at $234,000 after buying an additional 7,793 shares during the last quarter. 58.19% of the stock is 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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Analyst Recommendations for Tronox (NYSE:TROX)

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