Chemours (NYSE:CC) Hits New 1-Year High – Time to Buy?

Shares of The Chemours Company (NYSE:CC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $18.50 and last traded at $18.0260, with a volume of 59003 shares trading hands. The stock had previously closed at $18.32.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CC shares. Truist Financial lifted their target price on Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Mizuho dropped their price objective on shares of Chemours from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, October 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $18.00 target price on shares of Chemours in a research note on Friday, January 16th. Zacks Research lowered shares of Chemours from a “hold” rating to a “strong sell” rating in a report on Friday, October 17th. Finally, UBS Group cut their price target on shares of Chemours from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.67.

Chemours Price Performance

The stock’s 50 day moving average price is $13.79 and its 200-day moving average price is $13.97. The company has a quick ratio of 0.88, a current ratio of 1.71 and a debt-to-equity ratio of 13.66. The stock has a market capitalization of $2.76 billion, a PE ratio of -8.29 and a beta of 1.63.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. As a group, equities analysts forecast that The Chemours Company will post 2.03 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Chemours by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock worth $211,287,000 after purchasing an additional 490,778 shares during the period. State Street Corp increased its stake in shares of Chemours by 22.7% during 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 buying an additional 1,131,682 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of 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 in the last quarter. UBS Group AG raised its holdings in shares of 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 in the last quarter. Finally, Cooper Creek Partners Management LLC purchased a new stake in Chemours in the third quarter worth about $63,103,000. Institutional investors own 76.26% of the company’s stock.

About Chemours

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.