Mizuho Increases Chemours (NYSE:CC) Price Target to $21.00

Chemours (NYSE:CC) had its price target hoisted by research analysts at Mizuho from $17.00 to $21.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price objective suggests a potential upside of 20.21% from the company’s previous close.

A number of other equities research analysts also recently weighed in on CC. Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 price objective on shares of Chemours in a research report on Monday, February 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $18.00 price target on shares of Chemours in a report on Friday, January 16th. The Goldman Sachs Group boosted their price objective on shares of Chemours from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. BMO Capital Markets cut their price target on shares of Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.40.

Chemours Stock Down 0.3%

CC stock traded down $0.06 during trading on Thursday, hitting $17.47. 70,265 shares of the company’s stock traded hands, compared to its average volume of 3,492,103. The firm has a market capitalization of $2.62 billion, a P/E ratio of -7.04 and a beta of 1.60. Chemours has a 1 year low of $9.13 and a 1 year high of $21.85. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 16.33. The business has a fifty day simple moving average of $16.19 and a two-hundred day simple moving average of $14.71.

Chemours (NYSE:CC) last announced its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share (EPS) 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 analysts’ expectations of $1.33 billion. During the same quarter last year, the firm earned $0.09 EPS. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts anticipate that Chemours will post 2.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Baird Financial Group Inc. purchased a new stake in Chemours in the first quarter valued at approximately $148,000. Royal Bank of Canada lifted its stake in Chemours by 6.8% during the 1st quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company’s stock valued at $7,926,000 after acquiring an additional 37,382 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Chemours in the 1st quarter valued at $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Chemours by 149.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock worth $593,000 after acquiring an additional 25,899 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of Chemours during the first quarter worth $403,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Company Profile

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.