BMO Capital Markets Has Lowered Expectations for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its target price dropped by research analysts at BMO Capital Markets from $34.00 to $27.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 58.91% from the stock’s current price.

A number of other research firms have also recently commented on CC. The Goldman Sachs Group lowered their target price on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Barclays boosted their price objective on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley reduced their target price on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Finally, Truist Financial initiated coverage on Chemours in a research note on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price objective for the company. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.56.

Chemours Stock Down 2.8 %

Shares of CC stock traded down $0.49 during trading hours on Wednesday, reaching $16.99. 820,023 shares of the company’s stock were exchanged, compared to its average volume of 1,704,536. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $29.83. The stock’s 50 day moving average is $18.21 and its 200-day moving average is $18.95. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 34.00 and a beta of 1.81.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. Analysts predict that Chemours will post 1.21 earnings per share for the current fiscal year.

Institutional Trading of Chemours

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised 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 worth $26,000 after acquiring an additional 731 shares during the period. GAMMA Investing LLC lifted its holdings in Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 765 shares in the last quarter. Truvestments Capital LLC purchased a new position in Chemours during the third quarter valued at $35,000. Brooklyn Investment Group acquired a new stake in shares of Chemours in the third quarter valued at about $37,000. Finally, Signaturefd LLC boosted its holdings in Chemours by 163.7% in the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 1,216 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

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.