The Goldman Sachs Group Has Lowered Expectations for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its price objective lowered by The Goldman Sachs Group from $24.00 to $21.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 24.11% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Barclays increased their price objective on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Chemours in a research report on Thursday, December 12th. BMO Capital Markets boosted their price target on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Finally, Morgan Stanley reduced their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.63.

Chemours Stock Up 1.4 %

Shares of NYSE:CC opened at $16.92 on Tuesday. Chemours has a 12-month low of $15.10 and a 12-month high of $32.48. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 33.84 and a beta of 1.83. The stock has a fifty day simple moving average of $19.28 and a two-hundred day simple moving average of $20.00. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05.

Chemours (NYSE:CC) last issued its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. Chemours’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, research analysts anticipate that Chemours will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Alvenia Scarborough sold 7,500 shares of Chemours stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the sale, the senior vice president now directly owns 16,645 shares in the company, valued at $343,552.80. This trade represents a 31.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of Chemours

A number of institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its position in shares of Chemours by 166.9% during the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 731 shares in the last quarter. Matrix Trust Co acquired a new position in shares of Chemours in the third quarter valued at approximately $25,000. GAMMA Investing LLC lifted its stake in shares of Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 765 shares during the period. Truvestments Capital LLC acquired a new stake in Chemours during the third quarter worth approximately $35,000. Finally, Brooklyn Investment Group purchased a new stake in Chemours in the 3rd quarter worth approximately $37,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

About Chemours

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.