Chemours (NYSE:CC) Given New $21.00 Price Target at Truist Financial

Chemours (NYSE:CC) had its target price hoisted by equities research analysts at Truist Financial from $18.00 to $21.00 in a research note issued on Wednesday, Marketbeat reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Truist Financial’s price target suggests a potential upside of 37.21% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Mizuho decreased their target price on shares of Chemours from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, October 16th. Zacks Research downgraded Chemours from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a research report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Chemours in a report on Friday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $20.00 target price on shares of Chemours in a research note on Monday. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Chemours presently has a consensus rating of “Hold” and an average price target of $16.67.

Chemours Trading Down 2.0%

Shares of CC stock opened at $15.31 on Wednesday. The business has a 50-day moving average price of $12.65 and a two-hundred day moving average price of $13.73. Chemours has a 12-month low of $9.13 and a 12-month high of $20.12. The company has a quick ratio of 0.88, a current ratio of 1.71 and a debt-to-equity ratio of 13.66. The firm has a market cap of $2.29 billion, a P/E ratio of -6.89 and a beta of 1.61.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. State Street Corp raised its position in Chemours by 22.7% during the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after acquiring an additional 1,131,682 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Chemours by 13.8% in the third quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company’s stock valued at $75,971,000 after acquiring an additional 580,089 shares in the last quarter. UBS Group AG lifted its stake in shares of Chemours by 0.3% in the third quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock worth $75,311,000 after buying an additional 14,865 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new position in shares of Chemours during the 3rd quarter worth approximately $63,103,000. Finally, Geode Capital Management LLC boosted its stake in Chemours by 41.4% during the second quarter. Geode Capital Management LLC now owns 3,484,416 shares of the specialty chemicals company’s stock worth $39,901,000 after buying an additional 1,020,933 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

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.