Chemours (NYSE:CC) Raised to “Buy” at StockNews.com

Chemours (NYSE:CC – Get Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other analysts have also weighed in on the company. BMO Capital Markets cut their price objective on Chemours from $46.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 27th. Barclays upped their price objective on Chemours from $30.00 to $34.00 in a research report on Tuesday, November 1st. Royal Bank of Canada lowered Chemours from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $35.00 to $33.00 in a research report on Tuesday. Argus lowered Chemours from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Finally, Bank of America raised Chemours from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $37.00 to $40.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.90.

Chemours Stock Up 0.9 %

NYSE:CC opened at $33.58 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 2.73. The stock’s fifty day moving average is $31.47 and its two-hundred day moving average is $31.57. Chemours has a 52 week low of $22.56 and a 52 week high of $44.95. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 5.99, a price-to-earnings-growth ratio of 0.58 and a beta of 1.84.

Chemours (NYSE:CC – Get Rating) last released its quarterly earnings results on Tuesday, October 25th. The specialty chemicals company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. Chemours had a return on equity of 73.45% and a net margin of 12.91%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the firm earned $1.27 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. Research analysts anticipate that Chemours will post 4.81 EPS for the current year.

Hedge Funds Weigh In On Chemours

Several large investors have recently bought and sold shares of CC. Raymond James & Associates boosted its stake in Chemours by 31.0% in the first quarter. Raymond James & Associates now owns 135,617 shares of the specialty chemicals company’s stock valued at $4,269,000 after acquiring an additional 32,121 shares in the last quarter. Cetera Advisor Networks LLC boosted its stake in shares of Chemours by 21.3% during the first quarter. Cetera Advisor Networks LLC now owns 9,636 shares of the specialty chemicals company’s stock worth $303,000 after buying an additional 1,695 shares during the period. Bank of Montreal Can boosted its stake in shares of Chemours by 36.4% during the first quarter. Bank of Montreal Can now owns 73,197 shares of the specialty chemicals company’s stock worth $2,361,000 after buying an additional 19,552 shares during the period. D.A. Davidson & CO. acquired a new stake in shares of Chemours during the first quarter worth about $208,000. Finally, MetLife Investment Management LLC boosted its stake in shares of Chemours by 35.7% during the first quarter. MetLife Investment Management LLC now owns 107,133 shares of the specialty chemicals company’s stock worth $3,373,000 after buying an additional 28,160 shares during the period. Institutional investors and hedge funds own 71.89% of the company’s stock.

Chemours Company Profile

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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.