Chemours (NYSE:CC) was upgraded by investment analysts at Susquehanna Bancshares from a “neutral” rating to a “positive” rating in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a $18.00 price objective on the specialty chemicals company’s stock, down from their prior price objective of $37.00. Susquehanna Bancshares’ price objective suggests a potential upside of 27.57% from the stock’s previous close.
Several other equities analysts also recently weighed in on CC. Royal Bank of Canada downgraded Chemours from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $32.00 to $16.00 in a research report on Friday, August 9th. BMO Capital Markets decreased their target price on Chemours from $45.00 to $31.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. They noted that the move was a valuation call. ValuEngine downgraded Chemours from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Barclays restated a “buy” rating and issued a $42.00 target price on shares of Chemours in a research report on Monday, June 3rd. Finally, Jefferies Financial Group decreased their target price on Chemours from $48.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $32.10.
Shares of CC stock opened at $14.11 on Tuesday. The company has a market capitalization of $2.07 billion, a P/E ratio of 2.49, a P/E/G ratio of 0.31 and a beta of 2.48. The business’s 50 day moving average is $17.18 and its two-hundred day moving average is $28.73. The company has a current ratio of 1.96, a quick ratio of 1.09 and a debt-to-equity ratio of 5.37. Chemours has a 12-month low of $11.71 and a 12-month high of $46.13.
In related news, CEO Mark P. Vergnano acquired 44,000 shares of Chemours stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average price of $23.17 per share, for a total transaction of $1,019,480.00. Following the completion of the transaction, the chief executive officer now owns 116,600 shares in the company, valued at approximately $2,701,622. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary B. Cranston acquired 1,790 shares of Chemours stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $13.99 per share, for a total transaction of $25,042.10. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 77,790 shares of company stock worth $1,490,412. Company insiders own 2.34% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Cresset Asset Management LLC increased its stake in Chemours by 39.5% during the second quarter. Cresset Asset Management LLC now owns 372,577 shares of the specialty chemicals company’s stock worth $8,942,000 after acquiring an additional 105,545 shares during the last quarter. Luminus Management LLC increased its stake in Chemours by 4.4% during the second quarter. Luminus Management LLC now owns 524,175 shares of the specialty chemicals company’s stock worth $12,580,000 after acquiring an additional 22,105 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Chemours by 47.4% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,001 shares of the specialty chemicals company’s stock worth $599,000 after acquiring an additional 8,044 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Chemours by 3.2% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 119,057 shares of the specialty chemicals company’s stock worth $2,858,000 after acquiring an additional 3,700 shares during the last quarter. Finally, United Services Automobile Association grew its stake in shares of Chemours by 62.1% in the second quarter. United Services Automobile Association now owns 111,027 shares of the specialty chemicals company’s stock valued at $2,665,000 after buying an additional 42,514 shares in the last quarter. Hedge funds and other institutional investors own 76.18% of the company’s stock.
The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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