Truist Financial Begins Coverage on Chemours (NYSE:CC)

Analysts at Truist Financial assumed coverage on shares of Chemours (NYSE:CC) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $27.00 price target on the specialty chemicals company’s stock. Truist Financial’s target price suggests a potential upside of 42.37% from the company’s previous close.

CC has been the subject of a number of other research reports. The Goldman Sachs Group cut their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Mizuho cut their price objective 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. BMO Capital Markets upped their price target on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Barclays upped their price target on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Chemours currently has a consensus rating of “Hold” and a consensus price target of $24.11.

Chemours Stock Up 1.1 %

Shares of CC opened at $18.97 on Tuesday. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The firm has a market cap of $2.83 billion, a P/E ratio of 37.93 and a beta of 1.83. Chemours has a 52 week low of $15.10 and a 52 week high of $31.76. The firm’s 50-day simple moving average is $19.17 and its 200 day simple moving average is $19.55.

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

Insider Activity at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of the 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 completion of the transaction, the senior vice president now owns 16,645 shares of the company’s stock, valued at $343,552.80. This represents a 31.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Chemours

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Matrix Trust Co acquired a new position in Chemours in the 3rd quarter valued at approximately $25,000. Blue Trust Inc. increased its position in Chemours by 166.9% in the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 731 shares during the period. GAMMA Investing LLC increased its position in Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 765 shares during the period. Truvestments Capital LLC acquired a new position in Chemours in the 3rd quarter valued at approximately $35,000. Finally, Brooklyn Investment Group acquired a new position in Chemours in the 3rd quarter valued at approximately $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.