Chemours (NYSE:CC) Stock Price Up 6.8% Following Analyst Upgrade

The Chemours Company (NYSE:CC) shot up 6.8% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $13.00 to $17.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Chemours traded as high as $18.11 and last traded at $18.2050. 2,102,951 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 3,545,893 shares. The stock had previously closed at $17.04.

CC has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a research report on Wednesday, January 21st. UBS Group increased their price objective on shares of Chemours from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial lifted their price objective on shares of Chemours from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Mizuho set a $17.00 target price on shares of Chemours in a research report on Monday. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $18.00 price target on shares of Chemours in a research note on Friday, January 16th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Chemours has an average rating of “Hold” and a consensus price target of $17.60.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CC. Atlas Capital Advisors Inc. acquired a new position in shares of Chemours in the fourth quarter worth about $26,000. MTM Investment Management LLC acquired a new position in Chemours in the 2nd quarter worth approximately $27,000. Aster Capital Management DIFC Ltd acquired a new position in Chemours in the 4th quarter worth approximately $28,000. Covestor Ltd grew its position in Chemours by 204.7% during the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 1,748 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Chemours during the 4th quarter valued at $31,000. Institutional investors own 76.26% of the company’s stock.

Chemours Price Performance

The company has a market cap of $2.69 billion, a PE ratio of -7.23 and a beta of 1.63. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85. The stock has a fifty day moving average price of $15.36 and a 200-day moving average price of $14.51.

Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.09 EPS. On average, equities analysts expect that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.0875 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.0%. Chemours’s dividend payout ratio is -14.11%.

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.