Chemours (NYSE:CC) was downgraded by equities research analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports.

Other research analysts have also issued research reports about the company. Jefferies Group boosted their price objective on Chemours to $66.00 and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research raised Chemours from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, November 9th. BidaskClub raised Chemours from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Argus reissued a “buy” rating and set a $55.00 price objective (up previously from $50.00) on shares of Chemours in a report on Thursday, August 10th. Finally, UBS boosted their price objective on Chemours from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Chemours has an average rating of “Buy” and an average target price of $54.56.

Shares of Chemours (NYSE CC) opened at $49.30 on Wednesday. Chemours has a 52-week low of $20.76 and a 52-week high of $58.08. The firm has a market capitalization of $9,154.46, a PE ratio of 17.53, a PEG ratio of 0.86 and a beta of 3.38. The company has a current ratio of 2.19, a quick ratio of 1.63 and a debt-to-equity ratio of 5.07.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.11. Chemours had a return on equity of 116.80% and a net margin of 4.86%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. sell-side analysts predict that Chemours will post 3.73 EPS for the current year.

Chemours announced that its Board of Directors has initiated a stock buyback program on Friday, December 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

In other Chemours news, SVP David C. Shelton sold 13,397 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $55.00, for a total value of $736,835.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP David C. Shelton sold 19,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $53.68, for a total value of $1,019,920.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,183 shares of company stock valued at $2,720,166. 1.14% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Proficio Capital Partners purchased a new stake in shares of Chemours during the fourth quarter valued at approximately $0. Seaward Management Limited Partnership boosted its stake in shares of Chemours by 16.3% during the second quarter. Seaward Management Limited Partnership now owns 12,568 shares of the specialty chemicals company’s stock valued at $103,000 after purchasing an additional 1,765 shares during the period. Financial Architects Inc boosted its stake in shares of Chemours by 1,230.3% during the second quarter. Financial Architects Inc now owns 2,940 shares of the specialty chemicals company’s stock valued at $111,000 after purchasing an additional 2,719 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Chemours by 3.9% during the third quarter. LS Investment Advisors LLC now owns 6,997 shares of the specialty chemicals company’s stock valued at $112,000 after purchasing an additional 265 shares during the period. Finally, Williams Jones & Associates LLC raised its holdings in shares of Chemours by 7.8% during the first quarter. Williams Jones & Associates LLC now owns 16,226 shares of the specialty chemicals company’s stock valued at $114,000 after acquiring an additional 1,169 shares in the last quarter. 74.42% of the stock is owned by hedge funds and other institutional investors.

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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.

The Fly

Analyst Recommendations for Chemours (NYSE:CC)

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