Chemours (CC) Rating Reiterated by Barclays
Chemours (NYSE:CC)‘s stock had its “buy” rating reiterated by Barclays in a report issued on Wednesday. They currently have a $60.00 price objective on the specialty chemicals company’s stock. Barclays’ price objective suggests a potential upside of 25.18% from the company’s current price.
Other equities research analysts also recently issued research reports about the stock. Goldman Sachs Group downgraded shares of Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Wednesday. Zacks Investment Research downgraded shares of Chemours from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Argus reiterated a “buy” rating and set a $55.00 price target (up previously from $50.00) on shares of Chemours in a research note on Thursday, August 10th. BidaskClub upgraded shares of Chemours from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Finally, UBS lifted their price target on shares of Chemours from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.89.
Chemours (NYSE CC) traded up $1.58 during trading hours on Wednesday, hitting $47.93. 2,641,100 shares of the stock were exchanged, compared to its average volume of 2,773,002. Chemours has a 12 month low of $20.76 and a 12 month high of $58.08. The company has a market capitalization of $8,582.31, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 0.82 and a beta of 3.38. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.63 and a current ratio of 2.19.
Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.11. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.59 billion. Chemours had a net margin of 4.86% and a return on equity of 116.80%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 earnings per share. research analysts expect that Chemours will post 3.65 EPS for the current fiscal year.
Chemours announced that its Board of Directors has approved a stock buyback plan on Friday, December 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other news, SVP David C. Shelton sold 19,000 shares of the business’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $53.68, for a total value of $1,019,920.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP David C. Shelton sold 13,397 shares of Chemours stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $55.00, for a total value of $736,835.00. The disclosure for this sale can be found here. Insiders sold a total of 50,183 shares of company stock worth $2,720,166 in the last 90 days. 1.14% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its holdings in shares of Chemours by 3.4% in the second quarter. Acrospire Investment Management LLC now owns 3,076 shares of the specialty chemicals company’s stock valued at $117,000 after buying an additional 100 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of Chemours in the second quarter valued at about $202,000. Gamco Investors INC. ET AL bought a new position in shares of Chemours in the third quarter valued at about $202,000. Bell Bank bought a new position in shares of Chemours in the third quarter valued at about $202,000. Finally, First Allied Advisory Services Inc. bought a new stake in Chemours during the 3rd quarter worth about $202,000. 74.42% of the stock is owned by institutional investors and hedge funds.
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The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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