Tronox (NYSE:TROX) Downgraded to Strong Sell at ValuEngine

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

TROX has been the subject of several other research reports. Zacks Investment Research upgraded shares of Tronox from a hold rating to a strong-buy rating and set a $13.00 price objective for the company in a research report on Tuesday. TheStreet cut shares of Tronox from a c- rating to a d+ rating in a report on Friday, October 11th. Finally, Alembic Global Advisors reiterated a buy rating and issued a $19.00 target price on shares of Tronox in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $16.67.

Shares of TROX stock traded down $0.15 during trading hours on Wednesday, reaching $11.85. The stock had a trading volume of 38,563 shares, compared to its average volume of 1,296,204. The company has a debt-to-equity ratio of 3.80, a current ratio of 3.26 and a quick ratio of 1.62. Tronox has a twelve month low of $6.71 and a twelve month high of $15.50. The firm has a 50-day simple moving average of $11.33 and a 200-day simple moving average of $9.99. The firm has a market capitalization of $1.72 billion, a PE ratio of 21.11 and a beta of 3.49.

Tronox (NYSE:TROX) last released its quarterly earnings data 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 business had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $797.64 million. Tronox had a negative net margin of 4.79% and a positive return on equity of 6.56%. The company’s revenue for the quarter was up 68.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. On average, equities analysts anticipate that Tronox will post 0.45 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of TROX. Wells Fargo & Company MN lifted its position in shares of Tronox by 73.1% in the second quarter. Wells Fargo & Company MN now owns 422,072 shares of the company’s stock worth $5,394,000 after purchasing an additional 178,225 shares in the last quarter. Bank of Montreal Can raised its position in Tronox by 73.7% during the second quarter. Bank of Montreal Can now owns 18,361 shares of the company’s stock valued at $234,000 after acquiring an additional 7,793 shares in the last quarter. Bank of New York Mellon Corp raised its position in Tronox by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 415,262 shares of the company’s stock valued at $5,307,000 after acquiring an additional 15,462 shares in the last quarter. Renaissance Technologies LLC raised its position in Tronox by 56.9% during the second quarter. Renaissance Technologies LLC now owns 479,900 shares of the company’s stock valued at $6,133,000 after acquiring an additional 174,100 shares in the last quarter. Finally, Northern Trust Corp raised its position in Tronox by 2.3% during the second quarter. Northern Trust Corp now owns 1,161,152 shares of the company’s stock valued at $14,840,000 after acquiring an additional 25,955 shares in the last quarter. 58.19% of the stock is owned by institutional investors and hedge funds.

Tronox Company Profile

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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