The Goldman Sachs Group Has Lowered Expectations for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its price target reduced by research analysts at The Goldman Sachs Group from $15.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 41.92% from the stock’s previous close.

A number of other research firms have also recently commented on TROX. UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and raised their target price for the stock from $17.00 to $19.00 in a research note on Thursday, October 10th. 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 research report on Tuesday, October 29th. Finally, Barclays reduced their price objective on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

Tronox Stock Performance

Shares of TROX stock opened at $9.16 on Tuesday. Tronox has a 12 month low of $8.99 and a 12 month high of $20.70. The stock has a market cap of $1.45 billion, a PE ratio of -19.08 and a beta of 1.62. The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. The company’s fifty day moving average price is $11.12 and its 200-day moving average price is $13.17.

Tronox (NYSE:TROX) last posted its earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.30). The company had revenue of $804.00 million for the quarter, compared to the consensus estimate of $790.63 million. Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. Tronox’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.08) EPS. On average, equities analysts expect that Tronox will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TROX. JPMorgan Chase & Co. increased its stake in shares of Tronox by 5.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 841,230 shares of the company’s stock worth $12,307,000 after acquiring an additional 46,721 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Tronox by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock worth $39,708,000 after acquiring an additional 22,165 shares during the last quarter. Barclays PLC increased its stake in shares of Tronox by 320.1% in the 3rd quarter. Barclays PLC now owns 182,629 shares of the company’s stock worth $2,672,000 after acquiring an additional 139,161 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Tronox during the 3rd quarter worth $66,000. Finally, XTX Topco Ltd grew its holdings in shares of Tronox by 38.0% during the 3rd quarter. XTX Topco Ltd now owns 53,088 shares of the company’s stock worth $777,000 after purchasing an additional 14,609 shares during the period. 73.36% of the stock is owned by institutional investors and hedge funds.

About Tronox

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.