Tronox (NYSE:TROX) Rating Reiterated by Alembic Global Advisors

Alembic Global Advisors reissued their buy rating on shares of Tronox (NYSE:TROX) in a research report report published on Wednesday, TipRanks reports. The brokerage currently has a $11.00 price objective on the stock.

A number of other equities analysts have also weighed in on TROX. Zacks Investment Research lowered shares of Tronox from a hold rating to a sell rating in a research report on Tuesday, July 14th. SunTrust Banks dropped their price target on shares of Tronox from $20.00 to $12.00 and set a buy rating for the company in a research report on Friday, May 8th. ValuEngine upgraded shares of Tronox from a sell rating to a hold rating in a research report on Thursday, July 2nd. Finally, UBS Group upped their target price on shares of Tronox from $3.50 to $5.00 and gave the stock a sell rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Tronox currently has an average rating of Hold and an average target price of $10.80.

Shares of TROX stock opened at $7.62 on Wednesday. The stock has a market cap of $1.09 billion, a P/E ratio of 76.21 and a beta of 3.15. Tronox has a 12 month low of $3.97 and a 12 month high of $12.40. The company has a 50 day simple moving average of $7.29 and a two-hundred day simple moving average of $7.29. The company has a current ratio of 2.37, a quick ratio of 1.21 and a debt-to-equity ratio of 4.43.

Tronox (NYSE:TROX) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. The business had revenue of $578.00 million during the quarter, compared to analyst estimates of $597.14 million. Tronox had a net margin of 0.54% and a return on equity of 11.78%. The company’s revenue was down 26.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. As a group, equities analysts forecast that Tronox will post 0.31 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of Tronox by 495.8% during the first quarter. JPMorgan Chase & Co. now owns 2,355,954 shares of the company’s stock worth $11,733,000 after acquiring an additional 1,960,523 shares during the last quarter. Morgan Stanley raised its stake in Tronox by 43.8% during the first quarter. Morgan Stanley now owns 1,622,357 shares of the company’s stock valued at $8,079,000 after purchasing an additional 493,774 shares in the last quarter. Geode Capital Management LLC raised its stake in Tronox by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 1,598,409 shares of the company’s stock valued at $18,253,000 after purchasing an additional 48,040 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Tronox during the second quarter valued at $10,300,000. Finally, Norges Bank purchased a new stake in Tronox during the fourth quarter valued at $13,854,000. Hedge funds and other institutional investors own 56.26% of the company’s stock.

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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