Truist Financial Issues Positive Forecast for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its target price hoisted by equities research analysts at Truist Financial from $18.00 to $21.00 in a report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the specialty chemicals company’s stock. Truist Financial’s target price would indicate a potential upside of 37.21% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Mizuho decreased their price objective on shares of Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Zacks Research lowered shares of Chemours from a “hold” rating to a “strong sell” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Chemours in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on Chemours from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $20.00 target price on shares of Chemours in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.67.

Chemours Price Performance

CC stock opened at $15.31 on Wednesday. The business’s 50-day moving average is $12.65 and its two-hundred day moving average is $13.73. The company has a debt-to-equity ratio of 13.66, a current ratio of 1.71 and a quick ratio of 0.88. Chemours has a 1 year low of $9.13 and a 1 year high of $20.12. The firm has a market capitalization of $2.29 billion, a P/E ratio of -6.89 and a beta of 1.61.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, November 6th. The specialty chemicals company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). Chemours had a negative net margin of 5.70% and a positive return on equity of 35.27%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company posted $0.40 EPS. The company’s revenue was down .9% compared to the same quarter last year. Analysts anticipate that Chemours will post 2.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chemours

A number of large investors have recently made changes to their positions in the company. MTM Investment Management LLC purchased a new position in Chemours during the second quarter valued at approximately $27,000. GAMMA Investing LLC lifted its position in Chemours by 130.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,175 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 1,799 shares during the last quarter. Evelyn Partners Asset Management Ltd bought a new position in Chemours in the 2nd quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd acquired a new position in Chemours during the 3rd quarter valued at $43,000. Finally, FNY Investment Advisers LLC lifted its stake in shares of Chemours by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 4,000 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

About Chemours

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.