Tronox (TROX) PT Raised to $20.00 at SunTrust Banks

Tronox (NYSE:TROX) had its price objective raised by analysts at SunTrust Banks from $17.00 to $20.00 in a report issued on Thursday, April 11th, The Fly reports. The brokerage presently has a “buy” rating on the stock. SunTrust Banks’ target price points to a potential upside of 49.48% from the company’s current price.

A number of other analysts also recently commented on TROX. BMO Capital Markets set a $19.00 price objective on shares of Tronox and gave the stock a “buy” rating in a report on Tuesday, March 19th. Zacks Investment Research raised shares of Tronox from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, March 6th. ValuEngine raised shares of Tronox from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 20th. Barclays reaffirmed a “buy” rating and issued a $15.00 price target on shares of Tronox in a report on Wednesday, March 13th. Finally, UBS Group set a $7.00 price target on shares of Tronox and gave the company a “sell” rating in a report on Friday, December 14th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.00.

Shares of Tronox stock traded up $0.44 on Thursday, reaching $13.38. 2,303,848 shares of the stock were exchanged, compared to its average volume of 1,409,528. Tronox has a 1-year low of $6.46 and a 1-year high of $21.04. The company has a quick ratio of 6.88, a current ratio of 8.48 and a debt-to-equity ratio of 3.64. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 23.89 and a beta of 3.00.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Wednesday, February 27th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $429.00 million for the quarter, compared to analyst estimates of $423.07 million. Tronox had a positive return on equity of 7.52% and a negative net margin of 0.38%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 earnings per share. Equities research analysts anticipate that Tronox will post 1.2 EPS for the current year.

In other Tronox news, Director Ginger M. Jones purchased 20,000 shares of Tronox stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $11.45 per share, with a total value of $229,000.00. Following the completion of the acquisition, the director now directly owns 41,303 shares of the company’s stock, valued at $472,919.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc increased its position in Tronox by 0.3% during the third quarter. Vanguard Group Inc now owns 8,318,340 shares of the company’s stock worth $99,404,000 after purchasing an additional 27,035 shares during the last quarter. Marshall Wace LLP acquired a new position in Tronox during the third quarter worth approximately $2,435,000. Legal & General Group Plc increased its position in Tronox by 8.9% during the third quarter. Legal & General Group Plc now owns 36,860 shares of the company’s stock worth $440,000 after purchasing an additional 2,998 shares during the last quarter. Nordea Investment Management AB acquired a new position in Tronox during the third quarter worth approximately $3,727,000. Finally, Assenagon Asset Management S.A. acquired a new position in Tronox during the fourth quarter worth approximately $1,114,000. 69.17% of the stock is currently owned by institutional investors and hedge funds.

About Tronox

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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