Chemours (CC) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Chemours (NYSE:CC) from a buy rating to a hold rating in a research note published on Monday morning.

CC has been the subject of a number of other reports. Barclays reissued a buy rating and issued a $60.00 price target on shares of Chemours in a research report on Wednesday, December 6th. Morgan Stanley assumed coverage on shares of Chemours in a research report on Tuesday, January 30th. They issued an equal weight rating and a $57.50 price target for the company. BMO Capital Markets assumed coverage on shares of Chemours in a research report on Tuesday, March 27th. They issued an outperform rating and a $68.00 price target for the company. Zacks Investment Research raised shares of Chemours from a hold rating to a strong-buy rating and set a $58.00 price target for the company in a research report on Wednesday, February 21st. Finally, Goldman Sachs cut shares of Chemours from a buy rating to a neutral rating and set a $55.00 price target for the company. in a research report on Wednesday, December 6th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $58.86.

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Shares of Chemours stock traded down $1.07 during trading on Monday, hitting $49.01. 352,724 shares of the stock were exchanged, compared to its average volume of 1,866,506. The stock has a market cap of $8,753.86, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 0.58 and a beta of 2.95. Chemours has a 12-month low of $34.70 and a 12-month high of $58.08. The company has a current ratio of 2.12, a quick ratio of 1.55 and a debt-to-equity ratio of 4.74.

Chemours (NYSE:CC) last released its quarterly earnings data on Wednesday, February 14th. The specialty chemicals company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.24. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Chemours had a net margin of 12.06% and a return on equity of 115.54%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. sell-side analysts forecast that Chemours will post 5.37 earnings per share for the current fiscal year.

In other Chemours news, insider Paul Kirsch sold 13,770 shares of Chemours stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $50.01, for a total value of $688,637.70. Following the transaction, the insider now directly owns 63,093 shares in the company, valued at $3,155,280.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark Newman sold 29,381 shares of Chemours stock in a transaction on Friday, March 9th. The shares were sold at an average price of $49.19, for a total transaction of $1,445,251.39. The disclosure for this sale can be found here. Insiders own 1.75% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aurora Investment Counsel acquired a new position in Chemours in the fourth quarter valued at $1,998,000. JPMorgan Chase & Co. increased its stake in shares of Chemours by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 2,201,287 shares of the specialty chemicals company’s stock worth $110,969,000 after acquiring an additional 234,705 shares during the period. Wells Fargo & Company MN increased its stake in shares of Chemours by 30.1% during the third quarter. Wells Fargo & Company MN now owns 266,263 shares of the specialty chemicals company’s stock worth $13,477,000 after acquiring an additional 61,618 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Chemours during the third quarter worth about $3,325,000. Finally, Magnetar Financial LLC increased its stake in shares of Chemours by 119.9% during the third quarter. Magnetar Financial LLC now owns 17,614 shares of the specialty chemicals company’s stock worth $891,000 after acquiring an additional 9,605 shares during the period. Institutional investors own 77.78% of the company’s stock.

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About Chemours

The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.

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Analyst Recommendations for Chemours (NYSE:CC)

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