Chemours (NYSE:CC) Given New $14.00 Price Target at The Goldman Sachs Group

Chemours (NYSE:CC) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $21.00 to $14.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 26.24% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada dropped their price objective on shares of Chemours from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. UBS Group lowered their target price on shares of Chemours from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. StockNews.com lowered shares of Chemours from a “hold” rating to a “sell” rating in a report on Thursday, May 8th. Mizuho set a $15.00 target price on shares of Chemours in a report on Tuesday, April 15th. Finally, Morgan Stanley lowered their target price on shares of Chemours from $22.00 to $15.00 and set an “equal weight” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.56.

Chemours Stock Performance

NYSE:CC opened at $11.09 on Wednesday. Chemours has a 1 year low of $9.33 and a 1 year high of $29.17. The firm has a 50 day moving average of $12.36 and a 200-day moving average of $16.35. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. The stock has a market capitalization of $1.66 billion, a P/E ratio of 19.46 and a beta of 1.76.

Chemours (NYSE:CC) last posted its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). Chemours had a return on equity of 26.54% and a net margin of 1.51%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up .4% on a year-over-year basis. As a group, sell-side analysts anticipate that Chemours will post 2.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Chemours

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC boosted its stake in Chemours by 4.7% in the 4th quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company’s stock worth $227,000 after purchasing an additional 604 shares during the period. GAMMA Investing LLC boosted its stake in Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 765 shares during the period. HUB Investment Partners LLC boosted its stake in Chemours by 1.4% in the 4th quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company’s stock worth $984,000 after purchasing an additional 821 shares during the period. UMB Bank n.a. boosted its stake in shares of Chemours by 73.9% during the 1st quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 948 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in shares of Chemours by 39.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 1,003 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

About Chemours

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.