Morgan Stanley Issues Pessimistic Forecast for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its price target reduced by research analysts at Morgan Stanley from $30.00 to $25.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price target indicates a potential upside of 20.60% from the stock’s current price.

Several other equities analysts have also weighed in on CC. UBS Group cut their target price on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. JPMorgan Chase & Co. reduced their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Barclays increased their price target on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday. Royal Bank of Canada reduced their price objective on shares of Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Finally, BMO Capital Markets raised their target price on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.88.

Chemours Stock Up 4.3 %

Shares of Chemours stock opened at $20.73 on Tuesday. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 40.66 and a beta of 1.75. The stock has a 50-day simple moving average of $18.98 and a 200-day simple moving average of $22.14. Chemours has a 52-week low of $15.10 and a 52-week high of $32.70. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01.

Chemours (NYSE:CC) last posted its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a net margin of 2.16% and a return on equity of 33.21%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, equities research analysts expect that Chemours will post 1.32 earnings per share for the current fiscal year.

Institutional Trading of Chemours

Several institutional investors have recently modified their holdings of CC. Coastline Trust Co acquired a new position in shares of Chemours in the third quarter valued at $124,000. KBC Group NV raised its stake in shares of Chemours by 19.5% in the 3rd quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock valued at $91,000 after buying an additional 728 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Chemours during the 3rd quarter worth about $285,000. Victory Capital Management Inc. boosted its position in shares of Chemours by 206.2% during the 3rd quarter. Victory Capital Management Inc. now owns 103,259 shares of the specialty chemicals company’s stock valued at $2,098,000 after acquiring an additional 69,531 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Chemours in the third quarter valued at about $1,615,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Company Profile

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.