StockNews.com Downgrades Chemours (NYSE:CC) to Buy

Chemours (NYSE:CCGet Rating) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Other research analysts have also issued reports about the company. Bank of America cut their price objective on Chemours from $44.00 to $36.00 in a research report on Thursday. Royal Bank of Canada cut their price objective on Chemours from $48.00 to $35.00 in a research report on Thursday. UBS Group raised their price objective on Chemours from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, July 29th. Finally, Citigroup lifted their target price on Chemours to $36.00 in a research report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $36.67.

Chemours Stock Down 5.3 %

Shares of NYSE CC opened at $26.65 on Friday. The business has a 50-day moving average price of $34.36 and a 200 day moving average price of $34.56. The company has a quick ratio of 1.27, a current ratio of 1.91 and a debt-to-equity ratio of 3.01. The stock has a market cap of $4.13 billion, a PE ratio of 4.97, a price-to-earnings-growth ratio of 0.38 and a beta of 1.80. Chemours has a 52-week low of $22.56 and a 52-week high of $44.95.

Chemours (NYSE:CCGet Rating) last issued its earnings results on Thursday, July 28th. The specialty chemicals company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.47. Chemours had a return on equity of 79.77% and a net margin of 12.72%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the business posted $1.20 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. Equities research analysts forecast that Chemours will post 5.6 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AdvisorNet Financial Inc raised its stake in Chemours by 63.2% during the 1st quarter. AdvisorNet Financial Inc now owns 785 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 304 shares during the period. CNB Bank acquired a new stake in Chemours during the 2nd quarter valued at $25,000. Asset Management One Co. Ltd. acquired a new stake in Chemours during the 2nd quarter valued at $25,000. Prospera Financial Services Inc purchased a new position in shares of Chemours during the 1st quarter valued at $29,000. Finally, Dravo Bay LLC purchased a new position in shares of Chemours during the 1st quarter valued at $34,000. Institutional investors own 70.86% of the company’s stock.

About Chemours

(Get Rating)

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, 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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