Chemours (NYSE:CC) Stock Price Expected to Rise, Barclays Analyst Says

Chemours (NYSE:CC) had its price objective upped by stock analysts at Barclays from $21.00 to $23.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s target price indicates a potential upside of 10.95% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. UBS Group cut their price target on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. BMO Capital Markets increased their target price on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Royal Bank of Canada dropped their price target on Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. JPMorgan Chase & Co. cut their price objective on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group decreased their target price on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chemours presently has a consensus rating of “Hold” and a consensus price target of $24.88.

Chemours Price Performance

CC stock opened at $20.73 on Tuesday. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 40.66 and a beta of 1.75. The company has a quick ratio of 1.01, a current ratio of 1.89 and a debt-to-equity ratio of 5.45. Chemours has a 52-week low of $15.10 and a 52-week high of $32.70. The stock’s fifty day simple moving average is $18.98 and its 200-day simple moving average is $22.14.

Chemours (NYSE:CC) last posted its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The firm’s revenue was up .9% on a year-over-year basis. Equities research analysts expect that Chemours will post 1.32 EPS for the current year.

Institutional Trading of Chemours

Hedge funds have recently made changes to their positions in the company. Coastline Trust Co acquired a new stake in Chemours during the 3rd quarter valued at $124,000. KBC Group NV grew its stake in shares of Chemours by 19.5% during the third quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock valued at $91,000 after acquiring an additional 728 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Chemours in the third quarter worth about $285,000. Victory Capital Management Inc. boosted its holdings in Chemours by 206.2% in the third quarter. Victory Capital Management Inc. now owns 103,259 shares of the specialty chemicals company’s stock valued at $2,098,000 after purchasing an additional 69,531 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Chemours during the 3rd quarter valued at approximately $1,615,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About Chemours

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.