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

Chemours (NYSE:CC) had its target price cut by investment analysts at Barclays from $23.00 to $19.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s price target indicates a potential upside of 13.31% from the company’s current price.

CC has been the topic of several other research reports. Truist Financial initiated coverage on Chemours in a research report on Tuesday, January 28th. They set a “buy” rating and a $27.00 target price on the stock. Mizuho decreased their target price on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. BMO Capital Markets decreased their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. The Goldman Sachs Group lowered their price target on Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.11.

Chemours Stock Performance

Shares of CC stock opened at $16.77 on Monday. The stock’s 50-day moving average price is $18.09 and its 200 day moving average price is $18.92. Chemours has a 52-week low of $15.10 and a 52-week high of $29.83. The stock has a market capitalization of $2.51 billion, a PE ratio of 29.42 and a beta of 1.81. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

Chemours (NYSE:CC) last announced its quarterly earnings data 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. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. As a group, equities research analysts forecast that Chemours will post 2.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in shares of Chemours by 166.9% during the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 731 shares during the last quarter. GAMMA Investing LLC boosted its position in Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 765 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Chemours in the 3rd quarter worth approximately $35,000. Brooklyn Investment Group acquired a new position in Chemours in the 3rd quarter valued at $37,000. Finally, Signaturefd LLC lifted its stake in shares of Chemours by 163.7% during the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 1,216 shares during the period. Institutional investors and hedge funds 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.