Tronox (NYSE:TROX) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Tronox (NYSE:TROX) from a buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Tronox Holdings plc is a vertically integrated mining and inorganic chemical business. The company mines and processes titanium ore, zircon and other minerals and manufactures titanium dioxide pigments to paints, plastics, paper and other everyday products. It operates primarily in South Africa, Australia, United States, the Netherlands and Australia. Tronox Holdings plc, formerly known as Tronox Limited, is based in London, United Kingdom. “

A number of other equities analysts also recently issued reports on the company. Alembic Global Advisors set a $19.00 price objective on Tronox and gave the stock a buy rating in a report on Friday, May 10th. Morgan Stanley set a $15.00 price objective on Tronox and gave the stock a hold rating in a report on Wednesday, June 19th. Finally, ValuEngine downgraded Tronox from a hold rating to a sell rating in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Tronox presently has an average rating of Hold and a consensus price target of $14.86.

TROX opened at $7.59 on Tuesday. The stock has a fifty day simple moving average of $11.04 and a two-hundred day simple moving average of $11.68. The company has a current ratio of 3.15, a quick ratio of 4.72 and a debt-to-equity ratio of 3.44. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 13.55 and a beta of 3.29. Tronox has a 12-month low of $6.46 and a 12-month high of $16.75.

Tronox (NYSE:TROX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.17. The business had revenue of $791.00 million during the quarter, compared to the consensus estimate of $776.00 million. Tronox had a positive return on equity of 5.37% and a negative net margin of 4.60%. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 earnings per share. On average, analysts predict that Tronox will post 0.45 EPS for the current year.

In related news, SVP Jeffrey N. Neuman purchased 4,000 shares of Tronox stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $7.60 per share, for a total transaction of $30,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jeffrey N. Neuman purchased 4,812 shares of Tronox stock in a transaction dated Tuesday, June 4th. The shares were bought at an average price of $10.38 per share, with a total value of $49,948.56. Following the completion of the acquisition, the senior vice president now directly owns 79,510 shares of the company’s stock, valued at $825,313.80. The disclosure for this purchase can be found here. Insiders have bought 38,027 shares of company stock valued at $379,715 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Several large investors have recently modified their holdings of the company. FMR LLC increased its holdings in shares of Tronox by 36.7% during the first quarter. FMR LLC now owns 12,742,685 shares of the company’s stock valued at $167,566,000 after acquiring an additional 3,422,168 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Tronox in the 2nd quarter worth about $102,922,000. BlackRock Inc. increased its holdings in Tronox by 0.6% in the 2nd quarter. BlackRock Inc. now owns 6,304,200 shares of the company’s stock worth $80,568,000 after buying an additional 40,275 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Tronox by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,225,773 shares of the company’s stock worth $32,877,000 after buying an additional 51,847 shares in the last quarter. Finally, Private Capital Management LLC increased its holdings in Tronox by 1.8% in the 2nd quarter. Private Capital Management LLC now owns 2,806,318 shares of the company’s stock worth $35,865,000 after buying an additional 48,505 shares in the last quarter. Hedge funds and other institutional investors own 56.67% 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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