Barclays Has Lowered Expectations for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its price objective cut by equities research analysts at Barclays from $19.00 to $16.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s target price suggests a potential upside of 22.32% from the company’s previous close.

Several other research analysts have also weighed in on CC. Mizuho raised Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 price objective for the company in a research report on Thursday, March 27th. Morgan Stanley dropped their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. BMO Capital Markets reduced their price target on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group decreased their price objective on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Truist Financial started coverage on shares of Chemours in a report on Tuesday, January 28th. They set a “buy” rating and a $27.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.56.

Chemours Trading Up 0.9 %

NYSE CC opened at $13.08 on Tuesday. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 22.95 and a beta of 1.84. Chemours has a twelve month low of $12.65 and a twelve month high of $29.21. 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 business’s fifty day moving average is $16.02 and its 200 day moving average is $18.11.

Chemours (NYSE:CC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. As a group, sell-side analysts expect that Chemours will post 2.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Chemours

Hedge funds have recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new stake in shares of Chemours during the 4th quarter worth $357,000. Vision One Management Partners LP bought a new stake in Chemours in the third quarter worth about $28,252,000. Two Sigma Advisers LP boosted its stake in Chemours by 9.4% in the third quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company’s stock valued at $10,223,000 after acquiring an additional 43,200 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Chemours during the 4th quarter valued at approximately $266,000. Finally, Twelve Points Wealth Management LLC increased its stake in shares of Chemours by 42.8% during the 4th quarter. Twelve Points Wealth Management LLC now owns 78,325 shares of the specialty chemicals company’s stock worth $1,324,000 after purchasing an additional 23,490 shares during the last quarter. 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.