The Goldman Sachs Group Forecasts Strong Price Appreciation for Chemours (NYSE:CC) Stock

Chemours (NYSE:CC) had its price objective increased by research analysts at The Goldman Sachs Group from $14.00 to $18.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 3.93% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a research note on Wednesday, January 21st. Truist Financial raised their price target on shares of Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. upped their price objective on shares of Chemours from $13.00 to $17.00 and gave the company a “neutral” rating in a research note on Monday. UBS Group increased their price objective on shares of Chemours from $18.00 to $23.00 and gave the company a “buy” rating in a report on Monday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $18.00 target price on shares of Chemours in a research note on Friday, January 16th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Chemours presently has an average rating of “Hold” and an average target price of $18.00.

Chemours Price Performance

NYSE:CC opened at $17.32 on Wednesday. The stock has a 50 day moving average of $15.73 and a two-hundred day moving average of $14.60. Chemours has a 12 month low of $9.13 and a 12 month high of $21.85. The firm has a market cap of $2.60 billion, a P/E ratio of -6.98 and a beta of 1.63. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33.

Chemours (NYSE:CC) last released its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the business posted $0.09 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts expect that Chemours will post 2.03 earnings per share for the current fiscal year.

Institutional Trading of Chemours

Hedge funds and other institutional investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its holdings in Chemours by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company’s stock valued at $404,000 after acquiring an additional 600 shares during the last quarter. Amalgamated Bank raised its position in Chemours by 1.7% in the third quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company’s stock valued at $689,000 after purchasing an additional 740 shares during the period. PFG Investments LLC lifted its stake in shares of Chemours by 7.6% in the 4th quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock valued at $147,000 after purchasing an additional 883 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Chemours by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company’s stock valued at $899,000 after purchasing an additional 932 shares during the last quarter. Finally, Man Group plc grew its holdings in shares of Chemours by 0.4% during the 2nd quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock worth $3,104,000 after purchasing an additional 979 shares during the period. Institutional investors and hedge funds 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.