Chemours (NYSE:CC) Stock Price Expected to Rise, Truist Financial Analyst Says

Chemours (NYSE:CC) had its target price lifted by stock analysts at Truist Financial from $18.00 to $21.00 in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Truist Financial’s target price points to a potential upside of 30.76% from the stock’s previous close.

CC has been the topic of several other reports. Zacks Research cut Chemours from a “hold” rating to a “strong sell” rating in a research report on Friday, October 17th. UBS Group lowered their price objective on shares of Chemours from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. JPMorgan Chase & Co. dropped their price objective on shares of Chemours from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $20.00 target price on shares of Chemours in a report on Monday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $18.00 price target on shares of Chemours in a research report on Friday, January 16th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.67.

Chemours Trading Down 0.8%

Shares of CC stock opened at $16.06 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 0.88 and a debt-to-equity ratio of 13.66. Chemours has a 12-month low of $9.13 and a 12-month high of $20.07. The stock has a market capitalization of $2.41 billion, a P/E ratio of -7.23 and a beta of 1.61. The firm’s 50 day moving average is $12.80 and its 200 day moving average is $13.77.

Chemours (NYSE:CC) last announced its earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Chemours had a negative net margin of 5.70% and a positive return on equity of 35.27%. Chemours’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Research analysts expect that Chemours will post 2.03 earnings per share for the current year.

Institutional Investors Weigh In On Chemours

Large investors have recently bought and sold shares of the business. MTM Investment Management LLC purchased a new position in shares of Chemours in the 2nd quarter worth $27,000. Caitong International Asset Management Co. Ltd purchased a new position in Chemours in the third quarter worth about $43,000. GAMMA Investing LLC grew its position in 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 acquiring an additional 1,799 shares in the last quarter. Evelyn Partners Asset Management Ltd bought a new stake in Chemours during the second quarter worth approximately $37,000. Finally, Advisory Services Network LLC purchased a new stake in Chemours during the third quarter valued at approximately $54,000. Institutional investors own 76.26% of the company’s stock.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.