Morgan Stanley Lowers Chemours (NYSE:CC) Price Target to $15.00

Chemours (NYSE:CC) had its price objective reduced by investment analysts at Morgan Stanley from $22.00 to $15.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Morgan Stanley’s target price points to a potential upside of 27.23% from the stock’s previous close.

A number of other equities analysts have also weighed in on CC. Barclays reduced their price objective on Chemours from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Truist Financial cut their price objective on Chemours from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, April 14th. BMO Capital Markets cut their price objective on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada lowered 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. Finally, UBS Group lowered their target price on Chemours from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. One equities 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 company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.33.

Chemours Stock Down 1.7%

Chemours stock opened at $11.79 on Monday. The business has a fifty day moving average price of $12.47 and a 200-day moving average price of $16.43. Chemours has a 1-year low of $9.33 and a 1-year high of $29.18. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 20.68 and a beta of 1.76.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Chemours by 28.4% during the third quarter. Barclays PLC now owns 107,549 shares of the specialty chemicals company’s stock worth $2,185,000 after acquiring an additional 23,766 shares during the period. GAMMA Investing LLC increased its position in shares of Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 765 shares during the period. Matrix Trust Co increased its position in shares of Chemours by 715.7% during the fourth quarter. Matrix Trust Co now owns 9,952 shares of the specialty chemicals company’s stock worth $168,000 after acquiring an additional 8,732 shares during the period. Inspire Investing LLC increased its position in shares of Chemours by 17.4% during the fourth quarter. Inspire Investing LLC now owns 23,799 shares of the specialty chemicals company’s stock worth $402,000 after acquiring an additional 3,523 shares during the period. Finally, KBC Group NV increased its position in shares of Chemours by 38.2% during the fourth quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company’s stock worth $104,000 after acquiring an additional 1,708 shares during the period. 76.26% of the stock is currently 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.