Chemours Company (The) (CC) Upgraded by Zacks Investment Research to Strong-Buy
Chemours Company (The) (NYSE:CC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday. The firm presently has a $61.00 target price on the specialty chemicals company’s stock. Zacks Investment Research‘s price target points to a potential upside of 14.15% from the company’s current price.
According to Zacks, “Chemours Company is involved in chemical business. It operating segment consists of Titanium Technologies, Fluoroproducts and Chemical Solutions. Titanium Technologies segment produces titanium dioxide and premium white pigment. Fluoroproducts segment provides fluoroproducts, refrigerants and industrial fluoropolymer resins. Chemical Solutions segment provides industrial and specialty chemicals. The company’s brand consists of Teflon(R), Ti-Pure(R), Krytox(R) Viton(R), Opteon(R) and Nafion(R). Chemours Company is headquartered in Wilmington. “
A number of other research analysts also recently issued reports on CC. BidaskClub downgraded Chemours Company (The) from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Jefferies Group LLC reissued a “buy” rating and issued a $48.00 target price on shares of Chemours Company (The) in a research report on Friday, June 16th. Citigroup Inc. upgraded Chemours Company (The) from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $45.00 in a research note on Wednesday, July 5th. Argus restated a “buy” rating and issued a $55.00 target price (up previously from $50.00) on shares of Chemours Company (The) in a research note on Thursday, August 10th. Finally, UBS AG upgraded Chemours Company (The) from a “sell” rating to a “neutral” rating and boosted their target price for the company from $36.00 to $50.00 in a research note on Monday, August 7th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Chemours Company (The) presently has a consensus rating of “Buy” and a consensus price target of $52.75.
Chemours Company (NYSE CC) traded up 1.31% during midday trading on Tuesday, hitting $53.44. 1,611,515 shares of the company traded hands. The firm has a market capitalization of $9.88 billion, a PE ratio of 34.97 and a beta of 3.60. Chemours Company has a 12-month low of $14.41 and a 12-month high of $53.47. The stock’s 50-day moving average is $50.84 and its 200-day moving average is $50.84.
Chemours Company (The) (NYSE:CC) last released its quarterly earnings results on Wednesday, August 2nd. The specialty chemicals company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.02. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.49 billion. Chemours Company (The) had a return on equity of 122.97% and a net margin of 4.96%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. Analysts anticipate that Chemours Company will post $3.51 EPS for the current fiscal year.
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In other Chemours Company (The) news, SVP David C. Shelton sold 13,337 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $48.48, for a total value of $646,577.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider E Bryan Snell sold 13,000 shares of Chemours Company (The) stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $49.35, for a total transaction of $641,550.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,837 shares of company stock worth $1,865,603. 1.14% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Park National Corp OH acquired a new position in shares of Chemours Company (The) during the 3rd quarter worth about $231,000. Navellier & Associates Inc bought a new stake in shares of Chemours Company (The) in the 2nd quarter valued at about $2,632,000. Archford Capital Strategies LLC bought a new stake in shares of Chemours Company (The) in the 2nd quarter valued at about $1,178,000. Cookson Peirce & Co. Inc. bought a new stake in shares of Chemours Company (The) in the 2nd quarter valued at about $2,703,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Chemours Company (The) by 306.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 98,590 shares of the specialty chemicals company’s stock valued at $3,739,000 after purchasing an additional 74,329 shares during the last quarter. Institutional investors own 72.90% of the company’s stock.
Chemours Company (The) Company Profile
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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