Chemours (NYSE:CC) Price Target Cut to $31.00

Chemours (NYSE:CC) had its target price dropped by research analysts at BMO Capital Markets to $31.00 in a research note issued to investors on Monday, The Fly reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ target price indicates a potential upside of 113.79% from the stock’s current price. The analysts noted that the move was a valuation call.

Several other research analysts have also weighed in on CC. Morgan Stanley set a $26.00 target price on Chemours and gave the stock a “hold” rating in a report on Wednesday, June 19th. JPMorgan Chase & Co. downgraded Chemours from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $40.00 to $34.00 in a research note on Monday, May 6th. Citigroup downgraded Chemours from a “buy” rating to a “neutral” rating and dropped their price target for the company from $40.00 to $20.00 in a research note on Friday, July 12th. SunTrust Banks reissued a “buy” rating on shares of Chemours in a research note on Tuesday, July 9th. Finally, Barclays reissued a “buy” rating and issued a $42.00 price target on shares of Chemours in a research note on Monday, June 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.70.

CC stock traded down $0.19 during midday trading on Monday, hitting $14.50. 21,589 shares of the company’s stock were exchanged, compared to its average volume of 2,664,127. The stock’s fifty day moving average is $21.30. The company has a debt-to-equity ratio of 5.18, a quick ratio of 1.04 and a current ratio of 1.81. The company has a market cap of $2.41 billion, a P/E ratio of 2.56, a PEG ratio of 0.24 and a beta of 2.49. Chemours has a one year low of $14.02 and a one year high of $48.97.

Chemours (NYSE:CC) last posted its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.18). The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a return on equity of 68.91% and a net margin of 10.33%. The business’s revenue was down 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 earnings per share. On average, analysts predict that Chemours will post 2.72 earnings per share for the current fiscal year.

In related news, SVP Susan M. Kelliher bought 6,500 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average price of $23.06 per share, with a total value of $149,890.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bradley J. Bell bought 5,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average cost of $24.06 per share, for a total transaction of $120,300.00. The disclosure for this purchase can be found here. Insiders acquired a total of 55,500 shares of company stock worth $1,289,670 in the last three months. Company insiders own 2.34% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CC. JPMorgan Chase & Co. increased its position in 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 buying an additional 190,740 shares during the last quarter. Commerce Bank increased its position in Chemours by 32.9% during 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 during the last quarter. Swiss National Bank increased its position in Chemours by 0.8% during 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 during the last quarter. Dimensional Fund Advisors LP increased its position in Chemours by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 989,719 shares of the specialty chemicals company’s stock worth $27,929,000 after buying an additional 27,651 shares during the last quarter. Finally, Dean Capital Investments Management LLC increased its position in Chemours by 95.2% during the first quarter. Dean Capital Investments Management LLC now owns 358,782 shares of the specialty chemicals company’s stock worth $13,332,000 after buying an additional 175,017 shares during the last quarter. 80.25% of the stock is currently 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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