Mizuho Initiates Coverage on Chemours (NYSE:CC)

Research analysts at Mizuho began coverage on shares of Chemours (NYSE:CC) in a report released on Friday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $25.00 price target on the specialty chemicals company’s stock. Mizuho’s price objective suggests a potential upside of 3.43% from the stock’s current price.

Other research analysts also recently issued research reports about the company. UBS Group boosted their target price on Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Barclays lowered their target price on Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $19.00 to $34.00 in a research note on Tuesday, April 9th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Chemours currently has a consensus rating of “Hold” and a consensus price target of $30.89.

Chemours Trading Up 1.1 %

CC opened at $24.17 on Friday. Chemours has a twelve month low of $15.10 and a twelve month high of $39.05. The company has a 50-day simple moving average of $26.91 and a 200 day simple moving average of $28.12. The company has a quick ratio of 0.99, a current ratio of 1.61 and a debt-to-equity ratio of 5.26. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -11.14 and a beta of 1.82.

Chemours (NYSE:CC) last posted its quarterly earnings data on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.07. Chemours had a negative net margin of 5.51% and a positive return on equity of 46.67%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. Chemours’s revenue was down 12.1% compared to the same quarter last year. Analysts predict that Chemours will post 1.88 EPS for the current fiscal year.

Institutional Trading of Chemours

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC bought a new position in shares of Chemours during the 4th quarter worth approximately $25,000. New Covenant Trust Company N.A. bought a new position in shares of Chemours during the 1st quarter worth approximately $29,000. North Star Investment Management Corp. boosted its holdings 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 worth $34,000 after buying an additional 1,208 shares in the last quarter. Morton Brown Family Wealth LLC bought a new position in shares of Chemours in the 4th quarter worth $35,000. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Chemours by 1,969.7% in the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 1,300 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.