Brokerages Set The Chemours Company (NYSE:CC) Target Price at $23.75

The Chemours Company (NYSE:CC) has been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $23.75.

Several analysts have recently commented on the stock. Mizuho lowered their target price on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Barclays increased their price target on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group reduced their price target on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Chemours in a research report on Thursday, December 12th. Finally, Morgan Stanley reduced their price target on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th.

Insider Buying and Selling

In related news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the transaction, the senior vice president now directly owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This trade represents a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its stake in Chemours by 3.5% in the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock valued at $368,650,000 after purchasing an additional 618,361 shares during the last quarter. Geode Capital Management LLC grew its stake in Chemours by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock valued at $50,646,000 after purchasing an additional 28,803 shares during the last quarter. Appian Way Asset Management LP purchased a new position in Chemours in the third quarter valued at about $34,151,000. Vision One Management Partners LP purchased a new position in Chemours in the third quarter valued at about $28,252,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Chemours by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the specialty chemicals company’s stock valued at $24,974,000 after purchasing an additional 32,590 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Chemours Trading Down 1.6 %

CC opened at $19.68 on Thursday. The company’s 50 day moving average price is $19.18 and its two-hundred day moving average price is $19.65. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $32.25. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 39.35 and a beta of 1.83.

Chemours (NYSE:CC) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the firm posted $0.64 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts predict that Chemours will post 1.19 earnings per share for the current year.

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.