Royal Bank of Canada Lowers Chemours (NYSE:CC) Price Target to $28.00

Chemours (NYSE:CCGet Free Report) had its target price cut by Royal Bank of Canada from $35.00 to $28.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 37.39% from the stock’s previous close.

Several other equities research analysts have also issued reports on CC. UBS Group lowered their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Barclays decreased their price target on Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. BMO Capital Markets raised their price target on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Finally, The Goldman Sachs Group decreased their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.38.

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Chemours Price Performance

Shares of Chemours stock opened at $20.38 on Friday. The stock has a 50 day moving average of $18.82 and a 200 day moving average of $23.15. Chemours has a 12 month low of $15.10 and a 12 month high of $32.70. The firm has a market cap of $3.03 billion, a PE ratio of -9.39 and a beta of 1.74. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45.

Chemours (NYSE:CCGet Free Report) last announced its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a net margin of 2.16% and a return on equity of 33.21%. Chemours’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.10 earnings per share. On average, research analysts expect that Chemours will post 1.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Matrix Trust Co purchased a new position in shares of Chemours in the 3rd quarter valued at $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Chemours in the 1st quarter valued at $29,000. North Star Investment Management Corp. increased its holdings in shares of Chemours by 1,510.0% in the 1st quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 1,208 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Chemours by 1,969.7% in the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 1,300 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of Chemours in the 4th quarter valued at $40,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Chemours (NYSE:CC)

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