Chemours (NYSE:CC) Price Target Lowered to $21.00 at Barclays

Chemours (NYSE:CC) had its target price lowered by analysts at Barclays from $22.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s price target would indicate a potential upside of 10.64% from the stock’s previous close.

A number of other brokerages have also weighed in on CC. BMO Capital Markets lowered their price objective on Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Mizuho assumed coverage on Chemours in a report on Friday, June 7th. They set a “neutral” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. The Goldman Sachs Group reduced their target price on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Finally, UBS Group reduced their target price on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $26.63.

Chemours Trading Down 2.9 %

NYSE:CC traded down $0.57 on Wednesday, hitting $18.98. 308,795 shares of the stock were exchanged, compared to its average volume of 1,559,809. The stock has a market cap of $2.83 billion, a PE ratio of -8.75 and a beta of 1.74. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45. The stock has a fifty day moving average of $19.81 and a 200-day moving average of $23.79. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $32.70.

Chemours (NYSE:CC) last posted its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Chemours had a net margin of 2.16% and a return on equity of 33.21%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business posted $1.10 EPS. Chemours’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, equities analysts expect that Chemours will post 1.33 earnings per share for the current fiscal year.

Institutional Trading of Chemours

Several hedge funds have recently added to or reduced their stakes in CC. New Covenant Trust Company N.A. acquired a new position in shares of Chemours during the 1st quarter valued at $29,000. North Star Investment Management Corp. increased its position in shares of Chemours by 1,510.0% during the 1st quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,208 shares during the period. Sunbelt Securities Inc. increased its position in shares of Chemours by 1,969.7% during the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 1,300 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Chemours during the 4th quarter valued at $40,000. Finally, Headlands Technologies LLC acquired a new position in shares of Chemours during the 1st quarter valued at $42,000. 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.