UBS Group Issues Positive Forecast for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its price objective boosted by equities researchers at UBS Group from $23.00 to $29.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. UBS Group’s price target points to a potential upside of 32.66% from the stock’s current price.

CC has been the topic of several other reports. Truist Financial raised their price target on shares of Chemours from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets dropped their price objective 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. Jefferies Financial Group restated a “hold” rating and set a $17.00 price objective on shares of Chemours in a report on Monday, February 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $18.00 price objective on shares of Chemours in a report on Friday, January 16th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a report on Wednesday, January 21st. Five 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. Based on data from MarketBeat, Chemours has an average rating of “Hold” and a consensus price target of $19.60.

Chemours Stock Performance

CC traded up $0.43 during trading on Thursday, hitting $21.86. The stock had a trading volume of 3,112,635 shares, compared to its average volume of 3,535,309. The firm has a market cap of $3.28 billion, a PE ratio of -8.81 and a beta of 1.41. Chemours has a 12 month low of $9.13 and a 12 month high of $22.56. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33. The company has a 50 day simple moving average of $18.95 and a 200-day simple moving average of $15.38.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Chemours by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock valued at $211,287,000 after acquiring an additional 490,778 shares during the period. State Street Corp increased its stake in Chemours by 22.7% in 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 during the period. Ameriprise Financial Inc. increased its stake in 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 during the period. UBS Group AG increased its stake in Chemours by 0.3% in the third quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock valued at $75,311,000 after acquiring an additional 14,865 shares during the period. Finally, Cooper Creek Partners Management LLC bought a new stake in Chemours in the third quarter valued at about $63,103,000. Institutional investors own 76.26% of the company’s stock.

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.