Chemours (NYSE:CC) Rating Increased to Buy at UBS Group

Chemours (NYSE:CCGet Free Report) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, Briefing.com reports. The firm currently has a $30.00 target price on the specialty chemicals company’s stock, up from their prior target price of $28.00. UBS Group’s price objective would indicate a potential upside of 34.41% from the company’s current price.

A number of other analysts have also recently commented on CC. Mizuho began coverage on shares of Chemours in a research note on Friday, June 7th. They issued a “neutral” rating and a $25.00 price target for the company. Barclays cut their target price on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and boosted their price target for the stock from $19.00 to $34.00 in a research report on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.38.

Get Our Latest Analysis on Chemours

Chemours Stock Up 0.9 %

Chemours stock opened at $22.32 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 5.26. Chemours has a 1-year low of $15.10 and a 1-year high of $39.05. The company has a fifty day simple moving average of $25.32 and a 200 day simple moving average of $27.33. The company has a market cap of $3.32 billion, a P/E ratio of -10.29 and a beta of 1.80.

Chemours (NYSE:CCGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.07. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.35 billion. Chemours had a positive return on equity of 46.67% and a negative net margin of 5.51%. The business’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. Research analysts anticipate that Chemours will post 1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chemours

A number of hedge funds have recently bought and sold shares of CC. Burney Co. grew its position in shares of Chemours by 0.3% during the 1st quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock worth $5,174,000 after purchasing an additional 601 shares in the last quarter. EMC Capital Management boosted its stake in shares of Chemours by 26.5% in the first quarter. EMC Capital Management now owns 9,534 shares of the specialty chemicals company’s stock valued at $250,000 after buying an additional 1,998 shares during the period. New Covenant Trust Company N.A. acquired a new stake in Chemours during the first quarter worth approximately $29,000. Jacobs Levy Equity Management Inc. bought a new position in Chemours during the 1st quarter worth $1,764,000. Finally, Khrom Capital Management LLC raised its holdings in Chemours by 156.7% in the 1st quarter. Khrom Capital Management LLC now owns 2,235,659 shares of the specialty chemicals company’s stock valued at $58,708,000 after acquiring an additional 1,364,634 shares in the last quarter. 76.26% of the stock is owned by 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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