Tronox (NYSE:TROX) Stock Rating Raised to “Neutral” at JPMorgan Chase & Co.

Tronox (NYSE:TROX) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued on Monday, FinViz reports.

Several other research firms have also recently issued reports on TROX. Truist Financial decreased their price target on shares of Tronox from $7.00 to $4.00 and set a “hold” rating on the stock in a research note on Tuesday, October 20th. Mizuho lowered their price target on shares of Tronox from $5.50 to $4.50 and set an “underperform” rating for the company in a report on Wednesday, September 30th. Zacks Research lowered shares of Tronox from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tronox in a research note on Wednesday. Finally, The Goldman Sachs Group decreased their target price on shares of Tronox from $6.50 to $4.00 and set a “sell” rating on the stock in a research report on Friday, October 9th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Tronox presently has a consensus rating of “Reduce” and a consensus price target of $5.33.

Tronox Stock Down 1.0%

TROX opened at $2.48 on Monday. The company has a quick ratio of 0.81, a current ratio of 2.52 and a debt-to-equity ratio of 2.70. The firm has a market cap of $396.85 million, a P/E ratio of -0.78 and a beta of 0.98. Tronox has a 52 week low of $2.41 and a 52 week high of $10.59. The business’s fifty day simple moving average is $3.96 and its 200 day simple moving average is $6.55.

Tronox (NYSE:TROX) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.13). Tronox had a negative return on equity of 25.02% and a negative net margin of 15.86%. The company had revenue of $827.00 million for the quarter, compared to analysts’ expectations of $854.43 million. During the same quarter in the prior year, the business posted ($0.46) EPS. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Tronox will post -1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Tronox

A number of hedge funds have recently made changes to their positions in the stock. CoreCap Advisors LLC purchased a new stake in shares of Tronox during the 3rd quarter valued at $30,000. Vontobel Holding Ltd. acquired a new stake in shares of Tronox during the 3rd quarter worth $43,000. Vise Technologies Inc. raised its position in shares of Tronox by 33.0% in the 3rd quarter. Vise Technologies Inc. now owns 19,981 shares of the company’s stock worth $79,000 after buying an additional 4,958 shares during the period. Inscription Capital LLC raised its position in shares of Tronox by 98.8% in the 3rd quarter. Inscription Capital LLC now owns 20,317 shares of the company’s stock worth $80,000 after buying an additional 10,098 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Tronox in the 2nd quarter worth $114,000. Institutional investors and hedge funds own 73.36% of the company’s stock.

About Tronox

Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide pigment and other titanium products. Its titanium dioxide is used to provide whiteness, brightness and opacity in paints and coatings, plastics, paper, inks and related applications. The company also produces zircon and other mineral sands products used in ceramics, refractories, foundries and industrial applications.

Tronox operates an integrated business that includes the mining of mineral sands, production of titanium-bearing feedstocks, and manufacture of titanium dioxide pigment and specialty products.