Truist Financial Has Lowered Expectations for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its price objective cut by stock analysts at Truist Financial from $17.00 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 74.89% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley cut their price objective on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Barclays cut their price target on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, October 28th. The Goldman Sachs Group decreased their price target on Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. UBS Group lowered their target price on shares of Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, BMO Capital Markets reduced their price target on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.57.

Tronox Price Performance

Shares of TROX stock traded up $0.18 during trading hours on Tuesday, reaching $8.01. The company had a trading volume of 1,886,526 shares, compared to its average volume of 1,409,155. Tronox has a 12-month low of $7.72 and a 12-month high of $20.70. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.90 and a current ratio of 2.72. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -16.68 and a beta of 1.60. The stock has a fifty day moving average of $9.96 and a 200-day moving average of $11.88.

Tronox (NYSE:TROX) last issued its earnings results on Wednesday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. On average, equities analysts anticipate that Tronox will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its position in Tronox by 832.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,805 shares of the company’s stock valued at $38,000 after purchasing an additional 3,397 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Tronox in the third quarter worth approximately $66,000. KBC Group NV lifted its stake in Tronox by 59.4% in the fourth quarter. KBC Group NV now owns 6,949 shares of the company’s stock worth $70,000 after acquiring an additional 2,590 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Tronox by 34.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock valued at $96,000 after purchasing an additional 1,683 shares during the last quarter. Finally, Mariner LLC acquired a new stake in shares of Tronox in the 4th quarter valued at $105,000. 73.36% of the stock is owned by institutional investors and hedge funds.

About Tronox

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; feedstock; pig iron; monazite; titanium tetrachloride; and other products.