Kronos Worldwide (KRO) Lowered to Hold at Zacks Investment Research

Kronos Worldwide (NYSE:KRO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “KRONOS WORLDWIDE, INC. is a global producer and marketer of value-added titanium dioxide pigments. The Company along with its distributors and agents, sells and provides technical services for its products to over 4,000 customers in approximately 100 countries with the majority of sales in Europe and North America. “

A number of other research analysts have also weighed in on the company. ValuEngine raised Kronos Worldwide from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Barclays boosted their target price on Kronos Worldwide from $17.00 to $24.00 and gave the stock an “underweight” rating in a report on Tuesday, November 14th. Finally, SunTrust Banks boosted their price target on Kronos Worldwide from $21.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Kronos Worldwide has an average rating of “Hold” and an average target price of $24.00.

Kronos Worldwide (NYSE KRO) opened at $22.57 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.86 and a current ratio of 4.26. The firm has a market capitalization of $2,828.01, a P/E ratio of 7.89, a P/E/G ratio of 2.12 and a beta of 2.25. Kronos Worldwide has a 1-year low of $12.87 and a 1-year high of $29.49.

Kronos Worldwide (NYSE:KRO) last posted its earnings results on Wednesday, November 8th. The specialty chemicals company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21. The business had revenue of $464.50 million for the quarter, compared to analyst estimates of $448.00 million. Kronos Worldwide had a return on equity of 31.38% and a net margin of 20.52%. The firm’s revenue was up 30.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. analysts anticipate that Kronos Worldwide will post 1.63 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRO. Macquarie Group Ltd. bought a new stake in Kronos Worldwide in the 3rd quarter valued at $114,000. Teacher Retirement System of Texas bought a new stake in Kronos Worldwide in the 4th quarter valued at $204,000. Winslow Evans & Crocker Inc. bought a new stake in Kronos Worldwide in the 3rd quarter valued at $208,000. Neuberger Berman Group LLC bought a new stake in Kronos Worldwide in the 3rd quarter valued at $215,000. Finally, AMP Capital Investors Ltd bought a new stake in Kronos Worldwide in the 3rd quarter valued at $226,000. Institutional investors and hedge funds own 16.21% of the company’s stock.

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About Kronos Worldwide

Kronos Worldwide, Inc (Kronos) is a producer and marketer of titanium dioxide (TiO2) pigments, a base industrial product that is used in a range of applications. The Company, along with its distributors and agents, sells and provides technical services for its products with sales in Europe and North America.

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