Chemours (NYSE:CC – Get Free Report) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $22.00 to $15.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 0.62% from the stock’s current price.
Several other brokerages also recently commented on CC. Morgan Stanley set a $18.00 target price on Chemours in a research note on Monday. UBS Group restated a “neutral” rating and issued a $18.00 price target (down from $29.00) on shares of Chemours in a research note on Monday. Royal Bank Of Canada lowered their price target on Chemours from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Weiss Ratings cut Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Finally, BMO Capital Markets reduced their price objective on Chemours from $26.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.10.
Read Our Latest Analysis on Chemours
Chemours Stock Down 1.0%
Chemours (NYSE:CC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.54) EPS. As a group, analysts predict that Chemours will post 0.88 EPS for the current year.
Insiders Place Their Bets
In other Chemours news, CFO Shane Hostetter purchased 3,350 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were acquired at an average cost of $14.94 per share, for a total transaction of $50,049.00. Following the completion of the transaction, the chief financial officer owned 102,698 shares of the company’s stock, valued at approximately $1,534,308.12. The trade was a 3.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.
Institutional Investors Weigh In On Chemours
Several hedge funds and other institutional investors have recently modified their holdings of CC. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Chemours in the 1st quarter worth approximately $3,745,000. Versor Investments LP purchased a new position in Chemours during the fourth quarter valued at approximately $314,000. Penn Capital Management Company LLC lifted its holdings in Chemours by 113.0% during the fourth quarter. Penn Capital Management Company LLC now owns 1,386,819 shares of the specialty chemicals company’s stock valued at $16,366,000 after purchasing an additional 735,668 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Chemours by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock valued at $211,287,000 after purchasing an additional 490,778 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Chemours by 19.9% in the fourth quarter. Legal & General Group Plc now owns 2,139,617 shares of the specialty chemicals company’s stock worth $25,226,000 after purchasing an additional 355,074 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.
Chemours Company Profile
Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.
Chemours’ principal business activities are organized into three core segments.
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