Mizuho Forecasts Strong Price Appreciation for Chemours (NYSE:CC) Stock

Chemours (NYSE:CC) had its price objective increased by research analysts at Mizuho from $13.00 to $16.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price objective would indicate a potential upside of 20.72% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Morgan Stanley cut their target price on Chemours from $22.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, May 12th. Wall Street Zen cut Chemours from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. UBS Group cut their price target on Chemours from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Truist Financial decreased their price objective on Chemours from $27.00 to $22.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, The Goldman Sachs Group dropped their target price on shares of Chemours from $21.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chemours currently has a consensus rating of “Hold” and an average price target of $17.44.

Chemours Stock Performance

NYSE:CC opened at $13.25 on Tuesday. The firm has a market capitalization of $1.98 billion, a PE ratio of 66.27 and a beta of 1.65. The stock’s fifty day moving average is $11.48 and its 200 day moving average is $13.88. Chemours has a fifty-two week low of $9.13 and a fifty-two week high of $25.38. The company has a debt-to-equity ratio of 7.01, a quick ratio of 0.83 and a current ratio of 1.75.

Chemours (NYSE:CC) last announced its earnings results 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 net margin of 0.54% and a return on equity of 23.82%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the company posted $0.32 EPS. The company’s revenue was up .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Chemours will post 2.03 earnings per share for the current year.

Insider Activity

In other news, CFO Shane Hostetter bought 4,450 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The stock was bought at an average price of $11.28 per share, with a total value of $50,196.00. Following the completion of the transaction, the chief financial officer directly owned 59,694 shares of the company’s stock, valued at approximately $673,348.32. The trade was a 8.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Damian Gumpel purchased 7,822 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average cost of $9.95 per share, for a total transaction of $77,828.90. Following the completion of the acquisition, the insider directly owned 131,701 shares of the company’s stock, valued at approximately $1,310,424.95. The trade was a 6.31% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 25,672 shares of company stock valued at $251,573. Insiders own 0.47% of the company’s stock.

Institutional Trading of Chemours

Several hedge funds and other institutional investors have recently made changes to their positions in CC. Vanguard Group Inc. increased its position in Chemours by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 16,487,008 shares of the specialty chemicals company’s stock valued at $223,069,000 after buying an additional 1,263,047 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Chemours by 23.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company’s stock valued at $73,907,000 after acquiring an additional 839,849 shares in the last quarter. Millennium Management LLC raised its position in shares of Chemours by 60.4% in the 1st quarter. Millennium Management LLC now owns 4,022,782 shares of the specialty chemicals company’s stock valued at $54,428,000 after purchasing an additional 1,515,520 shares during the last quarter. American Century Companies Inc. boosted its stake in Chemours by 17.5% in the 1st quarter. American Century Companies Inc. now owns 1,909,149 shares of the specialty chemicals company’s stock worth $25,831,000 after purchasing an additional 284,130 shares in the last quarter. Finally, Norges Bank purchased a new stake in Chemours during the 4th quarter worth approximately $30,702,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Company Profile

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.