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

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 firms have also recently issued reports on CC. Jefferies Group raised their target price on shares of Chemours to $66.00 and gave the stock a “buy” rating in a research note on Monday. Goldman Sachs Group cut shares of Chemours from a “buy” rating to a “neutral” rating in a research note on Wednesday. Argus restated a “buy” rating and set a $55.00 target price (up previously from $50.00) on shares of Chemours in a research note on Thursday, August 10th. BidaskClub cut shares of Chemours from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Barclays restated a “buy” rating and set a $60.00 target price on shares of Chemours in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $54.78.

Shares of Chemours (NYSE CC) traded down $2.95 during mid-day trading on Wednesday, reaching $46.35. 5,419,457 shares of the company’s stock were exchanged, compared to its average volume of 2,773,013. The company has a current ratio of 2.19, a quick ratio of 1.63 and a debt-to-equity ratio of 5.07. The firm has a market capitalization of $9,154.46, a PE ratio of 17.53, a P/E/G ratio of 0.86 and a beta of 3.38. Chemours has a 12-month low of $20.76 and a 12-month high of $58.08.

Chemours (NYSE:CC) last posted its earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.11. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Chemours had a net margin of 4.86% and a return on equity of 116.80%. Chemours’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 EPS. research analysts expect that Chemours will post 3.73 EPS for the current fiscal year.

Chemours declared that its board has approved a share repurchase program on Friday, December 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In related news, insider E Bryan Snell sold 11,878 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $53.25, for a total transaction of $632,503.50. Following the transaction, the insider now directly owns 63,063 shares of the company’s stock, valued at $3,358,104.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP David C. Shelton sold 5,908 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $56.01, for a total transaction of $330,907.08. Following the transaction, the senior vice president now directly owns 47,356 shares in the company, valued at $2,652,409.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,183 shares of company stock worth $2,720,166. 1.14% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its position in Chemours by 3.4% during the second quarter. Acrospire Investment Management LLC now owns 3,076 shares of the specialty chemicals company’s stock worth $117,000 after acquiring an additional 100 shares during the period. Alps Advisors Inc. bought a new position in Chemours during the second quarter worth about $202,000. Gamco Investors INC. ET AL bought a new position in Chemours during the third quarter worth about $202,000. Bell Bank bought a new position in Chemours during the third quarter worth about $202,000. Finally, First Allied Advisory Services Inc. bought a new position in Chemours during the third quarter worth about $202,000. 74.42% of the stock is currently owned by institutional investors and hedge funds.

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Chemours 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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Analyst Recommendations for Chemours (NYSE:CC)

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