Royal Bank Of Canada Forecasts Strong Price Appreciation for Chemours (NYSE:CC) Stock

Chemours (NYSE:CC) had its price target hoisted by research analysts at Royal Bank Of Canada from $14.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 17.88% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on CC. The Goldman Sachs Group lowered their target price on shares of Chemours from $21.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, May 14th. UBS Group decreased their price objective on shares of Chemours from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of Chemours from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Truist Financial decreased their price objective on shares of Chemours from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley decreased their price objective on shares of Chemours from $22.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.33.

Chemours Stock Performance

NYSE:CC opened at $12.73 on Thursday. Chemours has a 1-year low of $9.13 and a 1-year high of $25.54. The firm has a 50 day simple moving average of $11.27 and a 200-day simple moving average of $14.10. The firm has a market cap of $1.90 billion, a PE ratio of 63.63 and a beta of 1.65. The company has a debt-to-equity ratio of 7.01, a current ratio of 1.75 and a quick ratio of 0.83.

Chemours (NYSE:CC) last released its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). Chemours had a net margin of 0.54% and a return on equity of 23.82%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Chemours’s revenue for the quarter was up .4% compared to the same quarter last year. On average, equities analysts expect that Chemours will post 2.03 EPS for the current year.

Insider Buying and Selling at Chemours

In related news, CFO Shane Hostetter purchased 4,450 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were purchased at an average cost of $11.28 per share, with a total value of $50,196.00. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Damian Gumpel purchased 13,400 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was bought at an average cost of $9.22 per share, for a total transaction of $123,548.00. Following the completion of the acquisition, the insider directly owned 123,879 shares of the company’s stock, valued at $1,142,164.38. This represents a 12.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 25,672 shares of company stock valued at $251,573 over the last 90 days. Insiders own 0.47% of the company’s stock.

Institutional Trading of Chemours

Several institutional investors have recently added to or reduced their stakes in CC. Norges Bank acquired a new stake in shares of Chemours during the fourth quarter worth $30,702,000. Millennium Management LLC raised its holdings in shares of Chemours by 60.4% during the first quarter. Millennium Management LLC now owns 4,022,782 shares of the specialty chemicals company’s stock worth $54,428,000 after purchasing an additional 1,515,520 shares during the period. Vanguard Group Inc. raised its holdings in shares of Chemours by 8.3% during the first quarter. Vanguard Group Inc. now owns 16,487,008 shares of the specialty chemicals company’s stock worth $223,069,000 after purchasing an additional 1,263,047 shares during the period. Bank of Montreal Can raised its holdings in shares of Chemours by 1,496.4% during the fourth quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company’s stock worth $16,110,000 after purchasing an additional 893,530 shares during the period. Finally, Ameriprise Financial Inc. raised 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 worth $73,907,000 after purchasing an additional 839,849 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

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.