Chemours (NYSE:CC) PT Lowered to $28.00

Chemours (NYSE:CC) had its target price cut by equities research analysts at Royal Bank of Canada from $35.00 to $28.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 37.52% from the company’s current price.

Several other research firms have also commented on CC. The Goldman Sachs Group lowered their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd. UBS Group cut their price target on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. BMO Capital Markets increased their target price on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. reduced their price target on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Finally, Barclays decreased their price objective on Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.38.

Chemours Trading Up 2.9 %

Shares of Chemours stock traded up $0.58 during mid-day trading on Friday, hitting $20.36. The stock had a trading volume of 753,334 shares, compared to its average volume of 1,552,905. The firm has a market cap of $3.04 billion, a P/E ratio of 25.14 and a beta of 1.74. Chemours has a 12-month low of $15.10 and a 12-month high of $32.70. The company has a quick ratio of 1.01, a current ratio of 1.89 and a debt-to-equity ratio of 5.45. The firm has a 50-day moving average of $18.83 and a two-hundred day moving average of $23.23.

Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Chemours had a return on equity of 33.21% and a net margin of 2.16%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. Sell-side analysts forecast that Chemours will post 1.32 earnings per share for the current year.

Hedge Funds Weigh In On Chemours

Several institutional investors have recently added to or reduced their stakes in CC. New Covenant Trust Company N.A. purchased a new stake in shares of Chemours during the 1st quarter valued at $29,000. Matrix Trust Co purchased a new stake in Chemours during the third quarter worth approximately $25,000. Neo Ivy Capital Management acquired a new stake in shares of Chemours in the fourth quarter worth $40,000. North Star Investment Management Corp. raised its stake in shares of Chemours by 1,510.0% in the 1st quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 1,208 shares during the period. Finally, Sunbelt Securities Inc. boosted its position in Chemours by 1,969.7% during the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 1,300 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Company Profile

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.