The Goldman Sachs Group Upgrades The Chemours (NYSE:CC) to Buy

The Chemours (NYSE:CC) was upgraded by stock analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, Analyst Ratings Network reports. The firm currently has a $47.00 price target on the specialty chemicals company’s stock, up from their previous price target of $35.00. The Goldman Sachs Group’s price target would suggest a potential upside of 26.41% from the company’s previous close.

A number of other equities analysts have also weighed in on CC. Citigroup boosted their target price on The Chemours from $27.00 to $29.00 in a research report on Wednesday, February 17th. Bank of America started coverage on The Chemours in a research note on Thursday, May 20th. They set a “buy” rating and a $42.00 price target for the company. Morgan Stanley boosted their price target on The Chemours from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, May 10th. TheStreet upgraded The Chemours from a “c” rating to a “b-” rating in a research note on Monday, May 3rd. Finally, BMO Capital Markets boosted their price target on The Chemours from $33.00 to $38.00 in a research note on Tuesday, February 16th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $32.91.

Shares of NYSE:CC opened at $37.18 on Wednesday. The Chemours has a fifty-two week low of $13.40 and a fifty-two week high of $38.87. The stock has a 50-day simple moving average of $32.64. The company has a current ratio of 1.86, a quick ratio of 1.20 and a debt-to-equity ratio of 4.66. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 0.44 and a beta of 2.13.

The Chemours (NYSE:CC) last issued its earnings results on Sunday, May 2nd. The specialty chemicals company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.08. The Chemours had a return on equity of 43.27% and a net margin of 4.25%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. The Chemours’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts anticipate that The Chemours will post 3.12 EPS for the current year.

In other The Chemours news, insider Edwin C. Sparks sold 28,521 shares of the company’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $36.10, for a total value of $1,029,608.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew S. Abbott sold 8,913 shares of the company’s stock in a transaction that occurred on Thursday, May 27th. The stock was sold at an average price of $35.61, for a total value of $317,391.93. The disclosure for this sale can be found here. Corporate insiders own 2.78% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Arkadios Wealth Advisors purchased a new stake in shares of The Chemours during the 4th quarter worth approximately $25,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of The Chemours during the 1st quarter worth approximately $25,000. Meeder Asset Management Inc. raised its holdings in shares of The Chemours by 54.4% during the 1st quarter. Meeder Asset Management Inc. now owns 973 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 343 shares in the last quarter. Tompkins Financial Corp raised its holdings in shares of The Chemours by 949.7% during the 4th quarter. Tompkins Financial Corp now owns 3,401 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 3,077 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of The Chemours by 122.6% during the 1st quarter. CWM LLC now owns 1,153 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 635 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

About The Chemours

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, and protection in various of applications.

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Analyst Recommendations for The Chemours (NYSE:CC)

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