The Chemours Company (NYSE:CC) Given Average Rating of “Hold” by Brokerages

The Chemours Company (NYSE:CC) has been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $23.75.

CC has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. The Goldman Sachs Group cut their price objective on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Morgan Stanley cut their price objective on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Mizuho cut their price target on Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Barclays raised their price target on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th.

Chemours Price Performance

NYSE CC opened at $19.82 on Thursday. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 39.63 and a beta of 1.83. Chemours has a 52-week low of $15.10 and a 52-week high of $32.48. The business has a 50 day simple moving average of $19.15 and a 200 day simple moving average of $19.69. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73.

Chemours (NYSE:CC) last issued its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. Analysts anticipate that Chemours will post 1.19 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Alvenia Scarborough sold 7,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the sale, the senior vice president now owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chemours

Institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC acquired a new position in shares of Chemours in the second quarter valued at approximately $2,480,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Chemours by 14.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,102 shares of the specialty chemicals company’s stock valued at $318,000 after buying an additional 1,803 shares during the period. Intech Investment Management LLC acquired a new position in shares of Chemours in the second quarter valued at approximately $772,000. Canada Pension Plan Investment Board acquired a new position in shares of Chemours in the second quarter valued at approximately $950,000. Finally, Sei Investments Co. boosted its holdings in shares of Chemours by 15.0% during the 2nd quarter. Sei Investments Co. now owns 17,866 shares of the specialty chemicals company’s stock worth $403,000 after buying an additional 2,325 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.