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

Chemours (NYSE:CC) had its price objective reduced by stock analysts at Morgan Stanley from $25.00 to $22.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price target would indicate a potential upside of 18.15% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group dropped 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. Barclays increased their target price on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Mizuho decreased their price target on Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price target on shares of Chemours in a research report on Thursday, December 12th. Finally, BMO Capital Markets lifted their price objective on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.75.

Chemours Stock Up 1.3 %

CC stock opened at $18.62 on Monday. Chemours has a twelve month low of $15.10 and a twelve month high of $32.48. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05. The company has a market cap of $2.78 billion, a PE ratio of 37.24 and a beta of 1.83. The business’s 50-day simple moving average is $19.23 and its 200 day simple moving average is $19.83.

Chemours (NYSE:CC) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. Chemours’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. On average, research analysts anticipate that Chemours will post 1.35 earnings per share for the current year.

Insider Transactions at Chemours

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Chemours

Several institutional investors and hedge funds have recently made changes to their positions in the business. Matrix Trust Co acquired a new stake in shares of Chemours during the third quarter worth $25,000. Blue Trust Inc. boosted its holdings in Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 731 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Chemours by 99.7% during the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 765 shares during the period. Truvestments Capital LLC acquired a new position in shares of Chemours during the 3rd quarter worth about $35,000. Finally, Brooklyn Investment Group bought a new stake in shares of Chemours in the 3rd quarter valued at about $37,000. Institutional investors 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.