Mizuho Issues Pessimistic Forecast for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its price target cut by analysts at Mizuho from $20.00 to $18.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price objective points to a potential upside of 30.96% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank Of Canada lowered their target price on shares of Chemours from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. JPMorgan Chase & Co. cut their price target on shares of Chemours from $22.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 13th. BMO Capital Markets lowered their price objective on shares of Chemours from $26.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, August 13th. Zacks Research upgraded shares of Chemours from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 10th. Finally, UBS Group reissued a “neutral” rating and issued a $18.00 target price (down from $29.00) on shares of Chemours in a research note on Monday, August 10th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.70.

Chemours Price Performance

Shares of NYSE CC opened at $13.74 on Wednesday. The stock has a fifty day moving average of $15.54 and a 200-day moving average of $19.39. Chemours has a fifty-two week low of $10.44 and a fifty-two week high of $28.67. The stock has a market cap of $2.07 billion, a PE ratio of -7.20 and a beta of 1.42. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.88 and a current ratio of 1.66.

Chemours (NYSE:CC) last issued its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. Chemours’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.54) EPS. Equities research analysts anticipate that Chemours will post 0.87 earnings per share for the current year.

Insider Activity at Chemours

In related news, CFO Shane Hostetter acquired 3,350 shares of the stock in a transaction on Thursday, August 6th. The stock was purchased at an average price of $14.94 per share, for a total transaction of $50,049.00. Following the completion of the transaction, the chief financial officer owned 102,698 shares of the company’s stock, valued at $1,534,308.12. This trade represents a 3.37% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Calderon Gerardo Familiar acquired 1,935 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $15.53 per share, with a total value of $30,050.55. Following the purchase, the insider owned 58,547 shares of the company’s stock, valued at approximately $909,234.91. This trade represents a 3.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 8,663 shares of company stock worth $130,601 in the last ninety days. 0.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chemours

Hedge funds have recently modified their holdings of the company. Deutsche Bank AG bought a new position in Chemours during the 2nd quarter valued at approximately $3,291,000. BlackRock Inc. bought a new stake in shares of Chemours in the 2nd quarter worth approximately $477,769,000. Old West Investment Management LLC bought a new stake in shares of Chemours in the 2nd quarter worth approximately $7,152,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Chemours during the first quarter valued at approximately $3,745,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Chemours during the second quarter valued at approximately $1,522,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Company Profile

The Chemours Company (NYSE: CC) is a global chemistry company headquartered in Wilmington, Delaware. Formed in 2015 through a spin-off from DuPont, Chemours develops and manufactures chemical products used in industries including transportation, electronics, energy, construction, and consumer goods.

The company operates through businesses focused on thermal and specialized solutions, titanium technologies, and advanced performance materials. Its products include refrigerants and heat-transfer fluids, titanium dioxide pigments used to provide whiteness and opacity in coatings, plastics, and paper, as well as fluoropolymers, specialty fluids, and other performance materials used in demanding industrial applications.

Chemours serves customers in North America, Latin America, Europe, the Asia-Pacific region, and other international markets through manufacturing facilities, research and development operations, and commercial activities around the world.