Chemours (NYSE:CC) Price Target Cut to $13.00 by Analysts at JPMorgan Chase & Co.

Chemours (NYSE:CC) had its price target decreased by analysts at JPMorgan Chase & Co. from $15.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 0.38% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Zacks Research lowered shares of Chemours from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. Mizuho cut their target price on Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Truist Financial lowered their price target on Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Royal Bank Of Canada decreased their target price on Chemours from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Finally, UBS Group lowered their target price on Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Chemours Trading Up 1.4%

Chemours stock traded up $0.18 during mid-day trading on Wednesday, hitting $12.95. The company’s stock had a trading volume of 297,335 shares, compared to its average volume of 3,387,335. The stock’s fifty day moving average is $13.38 and its two-hundred day moving average is $13.26. The company has a current ratio of 1.71, a quick ratio of 0.88 and a debt-to-equity ratio of 13.66. The firm has a market capitalization of $1.94 billion, a PE ratio of -5.83 and a beta of 1.59. Chemours has a 1 year low of $9.13 and a 1 year high of $22.26.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Chemours had a negative net margin of 5.70% and a positive return on equity of 35.27%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the company earned $0.40 EPS. On average, analysts anticipate that Chemours will post 2.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Penn Capital Management Company LLC acquired a new stake in shares of Chemours in the 3rd quarter valued at $10,325,000. CIBC Bancorp USA Inc. purchased a new position in Chemours in the third quarter valued at $254,000. Caitong International Asset Management Co. Ltd acquired a new stake in Chemours in the third quarter valued at $43,000. Advisory Services Network LLC purchased a new stake in Chemours during the 3rd quarter worth about $54,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Chemours by 6.5% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 131,336 shares of the specialty chemicals company’s stock worth $2,048,000 after acquiring an additional 8,028 shares in the last quarter. Institutional investors and hedge funds 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.