Morgan Stanley Raises Tronox (NYSE:TROX) Price Target to $22.00

Tronox (NYSE:TROX) had its price objective increased by analysts at Morgan Stanley from $16.00 to $22.00 in a research note issued to investors on Tuesday, Price Targets.com reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 9.62% from the stock’s previous close.

TROX has been the subject of several other reports. TheStreet upgraded shares of Tronox from a “d+” rating to a “c+” rating in a research report on Thursday, October 29th. Zacks Investment Research upgraded shares of Tronox from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Tuesday, January 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Tronox currently has an average rating of “Hold” and a consensus target price of $13.20.

NYSE:TROX traded down $0.83 during midday trading on Tuesday, hitting $20.07. The company had a trading volume of 101,974 shares, compared to its average volume of 1,088,461. Tronox has a 52-week low of $3.97 and a 52-week high of $21.36. The stock’s fifty day moving average price is $16.78 and its 200-day moving average price is $12.19. The company has a market capitalization of $2.88 billion, a PE ratio of 3.13 and a beta of 2.65. The company has a quick ratio of 1.85, a current ratio of 3.38 and a debt-to-equity ratio of 2.03.

Tronox (NYSE:TROX) last announced its earnings results on Thursday, February 18th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). Tronox had a return on equity of 7.18% and a net margin of 34.63%. As a group, research analysts forecast that Tronox will post 0.53 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. NEXT Financial Group Inc purchased a new stake in shares of Tronox during the 4th quarter valued at about $37,000. Advisory Services Network LLC purchased a new stake in shares of Tronox during the 4th quarter valued at about $44,000. Nisa Investment Advisors LLC raised its position in shares of Tronox by 34.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,500 shares of the company’s stock valued at $80,000 after buying an additional 1,400 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Tronox during the 4th quarter valued at about $110,000. Finally, Virginia Retirement Systems ET AL raised its position in shares of Tronox by 12.5% during the 4th quarter. Virginia Retirement Systems ET AL now owns 13,500 shares of the company’s stock valued at $197,000 after buying an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 54.25% of the company’s stock.

About Tronox

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines, and beneficiation and smelting operations. Its products include TiO2, zircon, and pig iron, as well as feedstock and other products comprising rutile prime, ilmenite, chloride slag, and other mining products.

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