Barclays Forecasts Strong Price Appreciation for Chemours (NYSE:CC) Stock

Chemours (NYSE:CC) had its target price raised by equities researchers at Barclays from $21.00 to $23.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s price objective would suggest a potential upside of 10.95% from the company’s previous close.

Several other research analysts have also commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. UBS Group decreased their price target on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group cut their price objective on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. BMO Capital Markets lifted their target price on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada lowered their target price on Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.88.

Chemours Trading Up 4.3 %

CC opened at $20.73 on Tuesday. The stock has a market capitalization of $3.09 billion, a PE ratio of 40.66 and a beta of 1.75. Chemours has a one year low of $15.10 and a one year high of $32.70. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89. The business’s 50 day moving average price is $18.98 and its 200 day moving average price is $22.14.

Chemours (NYSE:CC) last announced its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts expect that Chemours will post 1.32 EPS for the current year.

Institutional Investors Weigh In On Chemours

Hedge funds and other institutional investors have recently bought and sold shares of the business. Burney Co. increased its position in shares of Chemours by 0.3% in the first quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock valued at $5,174,000 after buying an additional 601 shares in the last quarter. Lavaca Capital LLC increased its holdings in Chemours by 2.7% during the 1st quarter. Lavaca Capital LLC now owns 24,658 shares of the specialty chemicals company’s stock valued at $648,000 after acquiring an additional 641 shares in the last quarter. KBC Group NV lifted its holdings in shares of Chemours by 19.5% in the third quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock valued at $91,000 after purchasing an additional 728 shares in the last quarter. Blue Trust Inc. grew its position in shares of Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 731 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Chemours by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock worth $940,000 after purchasing an additional 863 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.