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Tronox (NYSE:TROX) Given New $15.00 Price Target at BMO Capital Markets

Defense World ·  09/28 15:51

Tronox (NYSE:TROX – Get Rating) had its price target reduced by BMO Capital Markets from $16.00 to $15.00 in a research note issued to investors on Tuesday morning, The Fly reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other equities analysts have also recently weighed in on TROX. Bank of America cut their price objective on Tronox from $25.00 to $23.00 and set a buy rating on the stock in a report on Tuesday, June 14th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Tronox from $22.00 to $20.00 in a research report on Friday, June 17th. downgraded Tronox from a buy rating to a hold rating in a research note on Tuesday, September 20th. Finally, Barclays dropped their target price on Tronox from $21.00 to $16.00 and set an overweight rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $21.83.

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Tronox Stock Performance

Shares of TROX stock opened at $11.21 on Tuesday. Tronox has a one year low of $11.14 and a one year high of $26.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.26 and a quick ratio of 1.01. The stock has a market cap of $1.73 billion, a PE ratio of 3.04, a price-to-earnings-growth ratio of 0.26 and a beta of 1.89. The stock has a 50-day moving average of $14.81 and a 200-day moving average of $16.95.

Tronox (NYSE:TROX – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.84. The company had revenue of $945.00 million during the quarter, compared to analyst estimates of $1 billion. Tronox had a net margin of 15.97% and a return on equity of 20.25%. The firm's revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. As a group, sell-side analysts expect that Tronox will post 3.27 earnings per share for the current year.

Tronox Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Monday, August 15th were issued a dividend of $0.125 per share. The ex-dividend date was Friday, August 12th. This represents a $0.50 annualized dividend and a yield of 4.46%. Tronox's payout ratio is presently 13.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TROX. US Bancorp DE boosted its holdings in shares of Tronox by 117.8% in the 2nd quarter. US Bancorp DE now owns 2,176 shares of the company's stock valued at $36,000 after buying an additional 1,177 shares during the last quarter. Founders Capital Management raised its position in Tronox by 69.2% during the second quarter. Founders Capital Management now owns 2,200 shares of the company's stock worth $37,000 after acquiring an additional 900 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Tronox in the second quarter valued at $57,000. Covestor Ltd grew its position in shares of Tronox by 1,757.7% in the 1st quarter. Covestor Ltd now owns 2,898 shares of the company's stock valued at $57,000 after acquiring an additional 2,742 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Tronox during the 1st quarter worth about $101,000. 66.93% of the stock is currently owned by institutional investors.

Tronox Company Profile

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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; titanium tetrachloride; and other products.

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