Chemours (NYSE:CC) Price Target Cut to $18.00 by Analysts at BMO Capital Markets

Chemours (NYSE:CC) had its target price lowered by research analysts at BMO Capital Markets from $26.00 to $18.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ target price suggests a potential upside of 17.96% from the stock’s current price.

Several other research firms have also recently issued reports on CC. Weiss Ratings cut Chemours from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Truist Financial reduced their price objective on shares of Chemours from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Morgan Stanley set a $18.00 price objective on shares of Chemours in a research note on Monday. UBS Group reissued a “neutral” rating and set a $18.00 price target (down from $29.00) on shares of Chemours in a research report on Monday. Finally, Zacks Research downgraded shares of Chemours from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.90.

Chemours Stock Up 3.1%

Shares of CC stock opened at $15.26 on Thursday. Chemours has a 1 year low of $10.44 and a 1 year high of $28.67. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.88 and a current ratio of 1.66. The business’s fifty day moving average is $18.76 and its 200-day moving average is $20.03. The stock has a market cap of $2.30 billion, a PE ratio of -7.99 and a beta of 1.43.

Chemours (NYSE:CC) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the firm earned ($2.54) earnings per share. Chemours’s revenue was down 1.5% on a year-over-year basis. Equities analysts expect that Chemours will post 0.88 earnings per share for the current fiscal year.

Insider Activity at Chemours

In other Chemours news, CFO Shane Hostetter acquired 3,350 shares of Chemours stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $14.94 per share, with a total value of $50,049.00. Following the acquisition, the chief financial officer owned 102,698 shares of the company’s stock, valued at approximately $1,534,308.12. The trade was a 3.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

Institutional Trading of Chemours

A number of hedge funds and other institutional investors have recently made changes to their positions in CC. Atlas Capital Advisors Inc. bought a new position in Chemours in the fourth quarter valued at about $26,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Chemours in the 4th quarter valued at $28,000. Covestor Ltd boosted its position in shares of Chemours by 204.7% in the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 1,748 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Chemours in the 4th quarter worth $31,000. Finally, Rothschild Investment LLC grew its stake in shares of Chemours by 87.0% during the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 1,255 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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.