Chemours (NYSE:CC) Downgraded to “Neutral” at Citigroup

Chemours (NYSE:CC) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Friday, The Fly reports.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada lowered their price objective on Toromont Industries from C$66.00 to C$65.00 and set a “sector perform” rating on the stock in a research note on Monday, May 6th. Zacks Investment Research lowered Guardant Health from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. Jefferies Financial Group lowered their price objective on Chemours from $48.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. BMO Capital Markets set a $45.00 price target on Chemours and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, SunTrust Banks began coverage on Zillow Group in a research note on Tuesday. They issued a “buy” rating and a $49.39 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $40.40.

NYSE CC opened at $19.16 on Friday. The stock’s fifty day moving average is $22.82. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 3.38, a P/E/G ratio of 0.32 and a beta of 2.50. The company has a debt-to-equity ratio of 5.18, a current ratio of 1.81 and a quick ratio of 1.04. Chemours has a fifty-two week low of $18.74 and a fifty-two week high of $48.97.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.30). The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.52 billion. Chemours had a return on equity of 87.75% and a net margin of 12.60%. The business’s quarterly revenue was down 20.5% on a year-over-year basis. During the same period last year, the firm posted $1.41 EPS. On average, equities research analysts predict that Chemours will post 3.92 earnings per share for the current fiscal year.

In other news, Director Bradley J. Bell acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were purchased at an average price of $24.06 per share, for a total transaction of $120,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Susan M. Kelliher acquired 6,500 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average price of $23.06 per share, for a total transaction of $149,890.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 55,500 shares of company stock worth $1,289,670. Corporate insiders own 2.34% of the company’s stock.

Several hedge funds have recently bought and sold shares of CC. Norges Bank purchased a new stake in shares of Chemours in the 4th quarter valued at $46,624,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Chemours in the 1st quarter valued at $60,664,000. LSV Asset Management raised its holdings in shares of Chemours by 19.9% in the 1st quarter. LSV Asset Management now owns 3,695,006 shares of the specialty chemicals company’s stock valued at $137,306,000 after buying an additional 613,100 shares during the period. Scout Investments Inc. purchased a new stake in shares of Chemours in the 1st quarter valued at $20,085,000. Finally, FMR LLC raised its holdings in shares of Chemours by 2.0% in the 1st quarter. FMR LLC now owns 24,912,740 shares of the specialty chemicals company’s stock valued at $925,757,000 after buying an additional 479,467 shares during the period. Hedge funds and other institutional investors own 79.86% of the company’s stock.

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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

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