Chemours (NYSE:CC) Upgraded to Buy at UBS Group

UBS Group upgraded shares of Chemours (NYSE:CC – Get Rating) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat.com reports. UBS Group currently has $43.00 price target on the specialty chemicals company’s stock, up from their previous price target of $31.00.

Several other equities research analysts have also recently weighed in on CC. Citigroup increased their price target on shares of Chemours from $30.00 to $33.00 and gave the company a neutral rating in a research report on Thursday, December 15th. Bank of America raised shares of Chemours from a neutral rating to a buy rating and increased their price target for the company from $37.00 to $40.00 in a research report on Wednesday, January 11th. Argus cut shares of Chemours from a buy rating to a hold rating in a research report on Wednesday, October 5th. Royal Bank of Canada cut shares of Chemours from an outperform rating to a sector perform rating and dropped their price target for the company from $35.00 to $33.00 in a research report on Tuesday, January 10th. Finally, Morgan Stanley dropped their target price on shares of Chemours from $41.00 to $33.00 and set an equal weight rating for the company in a research report on Tuesday, October 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $34.10.

Chemours Price Performance

CC stock opened at $34.46 on Tuesday. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.14 and a current ratio of 1.82. Chemours has a 52 week low of $22.56 and a 52 week high of $44.95. The firm’s fifty day moving average is $31.70 and its 200 day moving average is $31.68. The firm has a market cap of $5.20 billion, a P/E ratio of 6.14, a P/E/G ratio of 0.67 and a beta of 1.84.

Chemours (NYSE:CC – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.08. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Chemours had a net margin of 12.91% and a return on equity of 73.45%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.27 EPS. Research analysts predict that Chemours will post 4.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CC. Asset Management One Co. Ltd. purchased a new position in Chemours during the 2nd quarter valued at about $25,000. CNB Bank bought a new stake in Chemours during the 2nd quarter valued at about $25,000. Trust Co. of Vermont bought a new stake in Chemours during the 2nd quarter valued at about $35,000. Ellevest Inc. increased its stake in Chemours by 34,325.0% during the 2nd quarter. Ellevest Inc. now owns 1,377 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 1,373 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC increased its stake in Chemours by 82.9% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,655 shares of the specialty chemicals company’s stock valued at $53,000 after purchasing an additional 750 shares in the last quarter. 71.89% of the stock is owned by hedge funds and other institutional investors.

Chemours Company Profile

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The Chemours Co is a holding company, which engages in the provision of performance chemicals. The firm delivers solutions, which include a range of industrial and chemical products for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, and general industrial.