Morgan Stanley Has Lowered Expectations for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its price objective reduced by investment analysts at Morgan Stanley from $16.00 to $12.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 22.82% from the stock’s previous close.

A number of other brokerages have also weighed in on TROX. BMO Capital Markets reduced their price objective on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Barclays cut their price target on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. The Goldman Sachs Group lowered their price objective on Tronox from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group upgraded Tronox from a “neutral” rating to a “buy” rating and increased their price objective for the company from $17.00 to $19.00 in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Tronox Price Performance

Shares of NYSE TROX opened at $9.77 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -20.35 and a beta of 1.62. The stock’s 50-day moving average is $10.95 and its two-hundred day moving average is $12.99. Tronox has a 1-year low of $8.73 and a 1-year high of $20.70.

Tronox (NYSE:TROX) last announced its quarterly earnings data on Thursday, October 24th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The company 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%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. Analysts forecast that Tronox will post -0.04 EPS for the current fiscal year.

Institutional Trading of Tronox

A number of large investors have recently made changes to their positions in TROX. Quantbot Technologies LP increased its position in Tronox by 98.6% during the third quarter. Quantbot Technologies LP now owns 174,922 shares of the company’s stock worth $2,559,000 after buying an additional 86,852 shares during the period. Royce & Associates LP increased its holdings in shares of Tronox by 20.8% in the 3rd quarter. Royce & Associates LP now owns 493,543 shares of the company’s stock valued at $7,221,000 after acquiring an additional 84,830 shares during the period. Geode Capital Management LLC raised its position in Tronox by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock valued at $39,708,000 after purchasing an additional 22,165 shares during the last quarter. Algert Global LLC boosted its stake in Tronox by 127.2% during the 2nd quarter. Algert Global LLC now owns 309,051 shares of the company’s stock worth $4,849,000 after purchasing an additional 173,054 shares during the period. Finally, Victory Capital Management Inc. grew its position in Tronox by 54.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock worth $22,497,000 after purchasing an additional 543,091 shares during the last quarter. 73.36% of the stock is owned by institutional investors and hedge funds.

Tronox Company Profile

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.