Chemours (NYSE:CC) had its price objective raised by equities research analysts at BMO Capital Markets from $23.00 to $25.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ price target points to a potential upside of 25.38% from the stock’s previous close.
CC has been the subject of several other research reports. UBS Group cut their price objective on Chemours from $19.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Royal Bank of Canada lowered Chemours from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $32.00 to $16.00 in a report on Friday, August 9th. Cfra upgraded Chemours from a “hold” rating to a “buy” rating in a report on Wednesday. SunTrust Banks upped their price objective on Chemours to $20.00 and gave the company a “hold” rating in a report on Wednesday. Finally, ValuEngine lowered Chemours from a “hold” rating to a “sell” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Chemours presently has a consensus rating of “Hold” and an average target price of $27.14.
Shares of NYSE:CC traded up $0.29 on Thursday, hitting $19.94. The company’s stock had a trading volume of 816,730 shares, compared to its average volume of 2,334,854. Chemours has a 12 month low of $11.71 and a 12 month high of $41.60. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 3.52, a price-to-earnings-growth ratio of 0.51 and a beta of 2.57. The stock’s 50-day moving average is $15.53 and its two-hundred day moving average is $19.91. The company has a debt-to-equity ratio of 5.05, a quick ratio of 1.09 and a current ratio of 1.72.
Chemours (NYSE:CC) last released its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Chemours had a return on equity of 58.38% and a net margin of 7.24%. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.49 earnings per share. Equities analysts expect that Chemours will post 2.44 earnings per share for the current fiscal year.
In related news, COO Mark Newman bought 20,000 shares of Chemours stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of $16.42 per share, with a total value of $328,400.00. Following the completion of the acquisition, the chief operating officer now directly owns 114,261 shares in the company, valued at approximately $1,876,165.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.34% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Investors Research Corp lifted its stake in Chemours by 148.1% in the 2nd quarter. Investors Research Corp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 720 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Chemours in the 2nd quarter worth about $29,000. Parallel Advisors LLC lifted its stake in Chemours by 479.4% in the 3rd quarter. Parallel Advisors LLC now owns 2,312 shares of the specialty chemicals company’s stock worth $35,000 after acquiring an additional 1,913 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Chemours by 423.4% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,727 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 2,206 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Chemours by 41.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,782 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 1,113 shares in the last quarter. 79.88% of the stock is 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, 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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