JPMorgan Chase & Co. Boosts Tronox (NYSE:TROX) Price Target to $30.00

Tronox (NYSE:TROX) had its price objective lifted by JPMorgan Chase & Co. from $26.00 to $30.00 in a research note released on Wednesday morning, The Fly reports. The brokerage currently has an overweight rating on the stock. The analysts noted that the move was a valuation call.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Tronox from a sell rating to a hold rating in a research note on Tuesday, August 17th. Bank of America initiated coverage on shares of Tronox in a research note on Thursday, May 20th. They set a buy rating and a $28.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $26.75.

NYSE TROX opened at $24.52 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.76 and a quick ratio of 1.47. The stock’s fifty day moving average price is $19.79 and its 200 day moving average price is $20.55. Tronox has a 1 year low of $7.61 and a 1 year high of $25.48. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 3.47 and a beta of 2.63.

Tronox (NYSE:TROX) last posted its quarterly earnings results on Wednesday, July 28th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.50 by $0.11. Tronox had a net margin of 31.53% and a return on equity of 10.66%. The company had revenue of $927.00 million for the quarter, compared to analyst estimates of $921.43 million. Research analysts expect that Tronox will post 2.34 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Monday, August 9th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Friday, August 6th. Tronox’s dividend payout ratio is presently 71.43%.

A number of institutional investors have recently modified their holdings of TROX. Dimensional Fund Advisors LP lifted its stake in Tronox by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,455,729 shares of the company’s stock valued at $79,764,000 after buying an additional 70,521 shares in the last quarter. IFP Advisors Inc purchased a new position in Tronox in the 1st quarter valued at about $106,000. Daiwa Securities Group Inc. purchased a new position in Tronox in the 1st quarter valued at about $264,000. The Manufacturers Life Insurance Company lifted its stake in Tronox by 13.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 58,152 shares of the company’s stock valued at $1,064,000 after buying an additional 6,845 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Tronox by 47.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 15,304 shares of the company’s stock valued at $280,000 after acquiring an additional 4,890 shares during the last quarter. 66.55% of the stock is currently owned by hedge funds and other institutional investors.

About Tronox

Tronox Holdings Plc engages in the mining and inorganic chemical business. Its products include Titanium Dioxide Mineral Sands. The firm also mines and processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments. The company was founded in 2006 and is headquartered in Stamford, CT.

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