Venator Materials (VNTR) Reaches New 52-Week Low Following Analyst Downgrade

Shares of Venator Materials PLC (NYSE:VNTR) hit a new 52-week low during trading on Thursday after BMO Capital Markets lowered their price target on the stock from $17.00 to $13.00. BMO Capital Markets currently has an outperform rating on the stock. Venator Materials traded as low as $8.50 and last traded at $8.82, with a volume of 21848 shares. The stock had previously closed at $8.80.

Other analysts have also issued reports about the stock. Vertical Research lowered shares of Venator Materials from a “buy” rating to a “$16.08” rating in a research note on Wednesday, July 18th. MED reiterated a “buy” rating and issued a $32.00 price target on shares of Venator Materials in a research note on Wednesday, August 29th. Citigroup reduced their price target on shares of Venator Materials from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, July 11th. Nomura reduced their price target on shares of Venator Materials from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, June 28th. Finally, Deutsche Bank reduced their price target on shares of Venator Materials from $24.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Venator Materials presently has an average rating of “Hold” and a consensus price target of $23.26.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NJ State Employees Deferred Compensation Plan boosted its holdings in shares of Venator Materials by 11.8% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 38,000 shares of the company’s stock worth $622,000 after buying an additional 4,000 shares during the last quarter. LPL Financial LLC lifted its holdings in Venator Materials by 19.0% during the first quarter. LPL Financial LLC now owns 29,515 shares of the company’s stock valued at $534,000 after purchasing an additional 4,722 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Venator Materials by 4.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 153,347 shares of the company’s stock valued at $2,775,000 after purchasing an additional 7,151 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in Venator Materials during the first quarter valued at approximately $174,000. Finally, Legal & General Group Plc purchased a new position in Venator Materials during the first quarter valued at approximately $192,000. 39.66% of the stock is currently owned by institutional investors.

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.49 and a current ratio of 2.32. The firm has a market cap of $949.09 million and a price-to-earnings ratio of 5.09.

Venator Materials (NYSE:VNTR) last issued its quarterly earnings results on Tuesday, July 31st. The company reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Venator Materials had a net margin of 16.67% and a return on equity of 27.45%. The business had revenue of $626.00 million for the quarter, compared to the consensus estimate of $666.44 million. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. analysts predict that Venator Materials PLC will post 2.33 earnings per share for the current fiscal year.

About Venator Materials (NYSE:VNTR)

Venator Materials PLC manufactures and markets chemical products worldwide. It operates through two segments, Titanium Dioxide and Performance Additives. The Titanium Dioxide segment offers titanium dioxide (TiO2), such as rutile, anatase, and nano TiO2 products for use in coatings, plastics, paper, printing inks, fibers, and food and personal care products.

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