Tronox (NYSE:TROX) Given New $13.00 Price Target at The Goldman Sachs Group

Tronox (NYSE:TROX) had its price target lowered by The Goldman Sachs Group from $15.00 to $13.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 41.92% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Barclays lowered their target price on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. BMO Capital Markets lowered their target price on Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Finally, UBS Group upgraded Tronox from a “neutral” rating to a “buy” rating and lifted their target price for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.40.

Tronox Price Performance

TROX stock opened at $9.16 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90. Tronox has a 1 year low of $8.99 and a 1 year high of $20.70. The firm has a market capitalization of $1.45 billion, a P/E ratio of -19.08 and a beta of 1.62. The business’s 50-day moving average is $11.12 and its two-hundred day moving average is $13.17.

Tronox (NYSE:TROX) last issued its earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.30). The business had revenue of $804.00 million for the quarter, compared to analyst estimates of $790.63 million. Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. Tronox’s revenue was up 21.5% on a year-over-year basis. During the same period last year, the business posted ($0.08) EPS. Analysts anticipate that Tronox will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tronox

Institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its stake in Tronox by 136.4% during the second quarter. Natixis Advisors LLC now owns 51,844 shares of the company’s stock valued at $813,000 after buying an additional 29,909 shares in the last quarter. Rhumbline Advisers increased its position in Tronox by 5.3% in the 2nd quarter. Rhumbline Advisers now owns 199,568 shares of the company’s stock valued at $3,131,000 after acquiring an additional 9,969 shares during the period. Headlands Technologies LLC bought a new position in Tronox during the 2nd quarter valued at $83,000. State of New Jersey Common Pension Fund D bought a new position in Tronox during the 2nd quarter valued at $1,480,000. Finally, Primecap Management Co. CA boosted its stake in Tronox by 0.8% during the 2nd quarter. Primecap Management Co. CA now owns 1,311,700 shares of the company’s stock valued at $20,581,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

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.