JPMorgan Chase & Co. Issues Pessimistic Forecast for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its target price reduced by research analysts at JPMorgan Chase & Co. from $15.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 3.50% from the stock’s current price.

CC has been the topic of a number of other research reports. Royal Bank Of Canada lowered their price objective on shares of Chemours from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. UBS Group decreased their target price on shares of Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Zacks Research downgraded Chemours from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. Truist Financial cut their price objective on Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, Mizuho lowered their target price on Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Chemours Trading Down 3.1%

Shares of NYSE:CC opened at $12.56 on Wednesday. The company has a debt-to-equity ratio of 13.66, a current ratio of 1.71 and a quick ratio of 0.88. Chemours has a 1 year low of $9.13 and a 1 year high of $22.26. The company has a market cap of $1.88 billion, a P/E ratio of -5.66 and a beta of 1.59. The stock’s fifty day moving average price is $13.26 and its 200-day moving average price is $13.25.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, November 6th. The specialty chemicals company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.Chemours’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. Sell-side analysts expect that Chemours will post 2.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CC. MTM Investment Management LLC purchased a new stake in Chemours in the 2nd quarter worth approximately $27,000. SouthState Corp bought a new position in shares of Chemours in the first quarter worth approximately $34,000. GAMMA Investing LLC increased its stake in shares of Chemours by 130.7% in the second quarter. GAMMA Investing LLC now owns 3,175 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 1,799 shares in the last quarter. Evelyn Partners Asset Management Ltd bought a new stake in shares of Chemours during the 2nd quarter valued at $37,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Chemours during the 3rd quarter valued at $43,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.