Chemours (NYSE:CC) Price Target Raised to $27.00

Chemours (NYSE:CC) had its price target lifted by Truist Financial from $21.00 to $27.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Truist Financial’s price objective points to a potential upside of 26.09% from the stock’s current price.

CC has been the topic of a number of other research reports. BMO Capital Markets cut their price target on shares of Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. Morgan Stanley increased their price target on shares of Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a research note on Wednesday, January 21st. UBS Group increased their price target on shares of Chemours from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Finally, The Goldman Sachs Group increased their price target on shares of Chemours from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Chemours currently has an average rating of “Hold” and an average price target of $19.00.

Chemours Stock Down 4.1%

Shares of NYSE CC opened at $21.41 on Thursday. Chemours has a 1 year low of $9.13 and a 1 year high of $22.56. The firm’s 50 day moving average price is $18.95 and its 200 day moving average price is $15.38. The firm has a market cap of $3.21 billion, a P/E ratio of -8.63 and a beta of 1.41. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78.

Chemours (NYSE:CC) last announced its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business earned $0.09 earnings per share. Chemours’s revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chemours will post 2.03 earnings per share for the current year.

Hedge Funds Weigh In On Chemours

A number of hedge funds have recently made changes to their positions in the business. Corient Private Wealth LLC raised its stake in shares of Chemours by 63.7% in the 4th quarter. Corient Private Wealth LLC now owns 31,680 shares of the specialty chemicals company’s stock valued at $374,000 after acquiring an additional 12,328 shares during the period. Alpine Global Management LLC purchased a new position in shares of Chemours in the 4th quarter valued at $176,000. Invesco Ltd. raised its stake in shares of Chemours by 14.0% in the 4th quarter. Invesco Ltd. now owns 948,125 shares of the specialty chemicals company’s stock valued at $11,178,000 after acquiring an additional 116,385 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Chemours in the 4th quarter valued at $191,000. Finally, Empowered Funds LLC raised its stake in shares of Chemours by 7.8% in the 4th quarter. Empowered Funds LLC now owns 40,577 shares of the specialty chemicals company’s stock valued at $478,000 after acquiring an additional 2,936 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Company Profile

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.