Chemours (NYSE:CC) had its price objective dropped by investment analysts at BMO Capital Markets from $31.00 to $23.00 in a report issued on Monday, The Fly reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ price target points to a potential upside of 40.16% from the company’s previous close.
A number of other equities analysts also recently commented on the company. Susquehanna Bancshares upgraded Chemours from a “neutral” rating to a “positive” rating and decreased their target price for the company from $37.00 to $18.00 in a report on Tuesday, August 20th. Citigroup downgraded Chemours from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $40.00 to $20.00 in a research note on Friday, July 12th. SunTrust Banks lowered Chemours from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada cut Chemours from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $32.00 to $16.00 in a research report on Friday, August 9th. Finally, Barclays reissued a “buy” rating and issued a $42.00 target price on shares of Chemours in a report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $31.30.
Shares of CC stock opened at $16.41 on Monday. The business has a 50-day moving average of $14.77 and a 200 day moving average of $26.37. The company has a debt-to-equity ratio of 5.37, a current ratio of 1.96 and a quick ratio of 1.09. Chemours has a 1-year low of $11.71 and a 1-year high of $44.28. The stock has a market capitalization of $2.40 billion, a PE ratio of 2.89, a P/E/G ratio of 0.36 and a beta of 2.57.
Chemours (NYSE:CC) last issued its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.18). Chemours had a return on equity of 71.90% and a net margin of 10.33%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the business posted $1.71 EPS. The firm’s revenue for the quarter was down 22.5% on a year-over-year basis. Analysts anticipate that Chemours will post 2.6 EPS for the current year.
In other news, Director Mary B. Cranston bought 1,790 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $13.99 per share, for a total transaction of $25,042.10. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bradley J. Bell bought 5,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $14.67 per share, for a total transaction of $73,350.00. The disclosure for this purchase can be found here. Insiders have acquired 33,790 shares of company stock valued at $470,932 in the last three months. 2.34% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Chemours by 40.9% during the first quarter. JPMorgan Chase & Co. now owns 657,295 shares of the specialty chemicals company’s stock worth $24,424,000 after purchasing an additional 190,740 shares in the last quarter. Commerce Bank lifted its holdings in shares of Chemours by 32.9% in the first quarter. Commerce Bank now owns 11,552 shares of the specialty chemicals company’s stock worth $430,000 after buying an additional 2,858 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Chemours by 0.8% in the first quarter. Swiss National Bank now owns 572,500 shares of the specialty chemicals company’s stock worth $21,274,000 after buying an additional 4,600 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Chemours by 536.3% during the second quarter. Envestnet Asset Management Inc. now owns 162,713 shares of the specialty chemicals company’s stock worth $3,905,000 after acquiring an additional 137,143 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Chemours by 14.1% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,516 shares of the specialty chemicals company’s stock worth $444,000 after acquiring an additional 2,290 shares during the last quarter. Institutional investors and hedge funds own 79.80% of the company’s stock.
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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