Chemours (NYSE:CC) Stock Rating Lowered by StockNews.com

Chemours (NYSE:CC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

A number of other brokerages have also issued reports on CC. Morgan Stanley decreased their target price on shares of Chemours from $22.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. Mizuho set a $15.00 price target on Chemours in a research report on Tuesday, April 15th. BMO Capital Markets lowered their price objective on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Truist Financial cut their target price on Chemours from $27.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Royal Bank of Canada reduced their target price on Chemours from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Chemours presently has a consensus rating of “Hold” and a consensus price target of $17.56.

Chemours Stock Performance

CC stock opened at $11.17 on Wednesday. Chemours has a twelve month low of $9.33 and a twelve month high of $28.86. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The company has a market cap of $1.67 billion, a P/E ratio of 19.60 and a beta of 1.76. The business’s fifty day moving average is $12.21 and its 200-day moving average is $16.19.

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

Institutional Investors Weigh In On Chemours

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CC. FNY Investment Advisers LLC acquired a new position in shares of Chemours in the first quarter valued at approximately $27,000. UMB Bank n.a. boosted its position in Chemours by 73.9% in the 1st quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 948 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Chemours by 170.7% in the first quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 1,444 shares in the last quarter. SouthState Corp acquired a new position in shares of Chemours in the first quarter worth $34,000. Finally, Quadrant Capital Group LLC increased its position in shares of Chemours by 100.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 1,119 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

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.