Chemours (NYSE:CC) Price Target Raised to $27.00

Chemours (NYSE:CC) had its price objective hoisted by stock analysts at Truist Financial from $21.00 to $27.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Truist Financial’s price target points to a potential upside of 26.09% from the stock’s current price.

A number of other equities research analysts have also weighed in on CC. UBS Group raised their price target on shares of Chemours from $18.00 to $23.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 price target on shares of Chemours in a report on Monday, February 23rd. Morgan Stanley raised their price target on shares of Chemours from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a report on Wednesday, January 21st. Finally, Mizuho raised their price target on shares of Chemours from $17.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.00.

Chemours Stock Performance

Shares of CC stock opened at $21.41 on Thursday. The company’s fifty day simple moving average is $18.95 and its 200-day simple moving average is $15.38. Chemours has a 52 week low of $9.13 and a 52 week high of $22.56. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33. The company has a market cap of $3.21 billion, a PE ratio of -8.63 and a beta of 1.41.

Chemours (NYSE:CC) last issued its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 EPS. As a group, equities research analysts anticipate that Chemours will post 2.03 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CC. Atlas Capital Advisors Inc. acquired a new position in Chemours during the 4th quarter worth $26,000. Aster Capital Management DIFC Ltd acquired a new position in Chemours during the 4th quarter worth $28,000. Covestor Ltd grew its holdings 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 acquiring an additional 1,748 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Chemours during the 4th quarter worth $31,000. Finally, Rothschild Investment LLC grew its holdings in Chemours by 87.0% during the 4th quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 1,255 shares in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

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.