Chemours (NYSE:CC) was upgraded by stock analysts at Cfra from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Briefing.com Automated Import reports.
Several other equities analysts have also recently issued reports on the company. Citigroup cut Chemours from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $40.00 to $20.00 in a report on Friday, July 12th. Argus cut Chemours from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Susquehanna Bancshares raised Chemours from a “neutral” rating to a “positive” rating and reduced their price objective for the stock from $37.00 to $18.00 in a report on Tuesday, August 20th. Royal Bank of Canada cut Chemours from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $32.00 to $16.00 in a report on Friday, August 9th. Finally, ValuEngine cut Chemours from a “hold” rating to a “sell” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $27.14.
Shares of CC traded up $0.04 during mid-day trading on Wednesday, hitting $19.69. The company’s stock had a trading volume of 1,887,698 shares, compared to its average volume of 2,583,418. The company has a current ratio of 1.72, a quick ratio of 1.09 and a debt-to-equity ratio of 5.05. The firm has a 50-day simple moving average of $15.60 and a 200 day simple moving average of $19.81. The firm has a market capitalization of $3.23 billion, a P/E ratio of 3.47, a P/E/G ratio of 0.51 and a beta of 2.57. Chemours has a 1-year low of $11.71 and a 1-year high of $41.60.
Chemours (NYSE:CC) last issued its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Chemours had a return on equity of 58.38% and a net margin of 7.24%. Chemours’s revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.49 earnings per share. As a group, sell-side analysts predict that Chemours will post 2.44 EPS for the current fiscal year.
In related news, COO Mark Newman purchased 20,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average price of $16.42 per share, with a total value of $328,400.00. Following the completion of the transaction, the chief operating officer now owns 114,261 shares of the company’s stock, valued at approximately $1,876,165.62. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.34% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Third Point LLC increased its position in Chemours by 118.8% during the second quarter. Third Point LLC now owns 4,375,000 shares of the specialty chemicals company’s stock worth $105,000,000 after buying an additional 2,375,000 shares in the last quarter. LSV Asset Management grew its position in shares of Chemours by 4.5% in the second quarter. LSV Asset Management now owns 3,860,806 shares of the specialty chemicals company’s stock valued at $92,659,000 after purchasing an additional 165,800 shares during the period. Invesco Ltd. grew its position in shares of Chemours by 171.4% in the second quarter. Invesco Ltd. now owns 2,466,635 shares of the specialty chemicals company’s stock valued at $59,199,000 after purchasing an additional 1,557,746 shares during the period. M&T Bank Corp grew its position in shares of Chemours by 71.6% in the second quarter. M&T Bank Corp now owns 1,158,451 shares of the specialty chemicals company’s stock valued at $27,803,000 after purchasing an additional 483,539 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Chemours by 7.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,088,495 shares of the specialty chemicals company’s stock valued at $26,124,000 after purchasing an additional 74,964 shares during the period. 79.88% of the stock is owned by institutional investors.
Chemours Company Profile
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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