Kronos Worldwide (NYSE:KRO) Stock Gets Downgrade from Wall Street Zen

Kronos Worldwide (NYSE:KRO) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently commented on the company. Zacks Research cut Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft upped their price objective on Kronos Worldwide from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. The Goldman Sachs Group reiterated a “sell” rating and set a $8.00 target price on shares of Kronos Worldwide in a research report on Thursday, August 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Kronos Worldwide in a research note on Tuesday, October 6th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $8.50.

Kronos Worldwide Stock Performance

Shares of NYSE KRO opened at $7.43 on Friday. The firm has a fifty day moving average price of $7.90 and a 200-day moving average price of $6.90. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.30 and a quick ratio of 1.63. The stock has a market cap of $855.19 million, a PE ratio of -22.51 and a beta of 1.11. Kronos Worldwide has a 1 year low of $4.08 and a 1 year high of $9.17.

Kronos Worldwide (NYSE:KRO) last announced its quarterly earnings data on Thursday, November 5th. The specialty chemicals company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.19 by $0.11. Kronos Worldwide had a negative net margin of 1.85% and a negative return on equity of 4.96%. The firm had revenue of $541.10 million for the quarter, compared to the consensus estimate of $537.40 million. Equities analysts anticipate that Kronos Worldwide will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Kronos Worldwide

A number of institutional investors and hedge funds have recently bought and sold shares of KRO. BlackRock Inc. bought a new stake in shares of Kronos Worldwide in the second quarter worth about $10,886,000. Bank of New York Mellon Corp purchased a new stake in shares of Kronos Worldwide in the second quarter worth about $5,030,000. Bank of America Corp DE purchased a new stake in shares of Kronos Worldwide in the second quarter worth about $2,742,000. PDT Partners LLC bought a new position in Kronos Worldwide during the second quarter valued at approximately $1,336,000. Finally, Monaco Asset Management SAM bought a new position in Kronos Worldwide during the second quarter valued at approximately $964,000. 15.11% of the stock is currently owned by institutional investors.

About Kronos Worldwide

Kronos Worldwide, Inc (NYSE:KRO) is a global producer and marketer of titanium dioxide (TiO2) pigments. Its products are sold primarily under the KRONOS brand and are used to provide whiteness, opacity, brightness and protection in paints and coatings, plastics, paper and other manufactured products.

The company also produces certain specialty chemicals, including iron-based products and related inorganic chemicals. Kronos serves industrial customers through manufacturing and distribution operations in North America and Europe, with products marketed to customers in markets around the world.

Kronos Worldwide traces its roots to the early development of commercial titanium dioxide production and is part of the Valhi, Inc corporate family.