Zacks Research Downgrades Chemours (NYSE:CC) to Strong Sell

Chemours (NYSE:CC) was downgraded by Zacks Research from a “strong-buy” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research analysts have also issued reports on CC. Royal Bank Of Canada reduced their target price on shares of Chemours from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Mizuho set a $22.00 price target on shares of Chemours in a research note on Wednesday, August 5th. Weiss Ratings cut Chemours from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Morgan Stanley set a $18.00 price objective on Chemours in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on Chemours from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $21.00.

Chemours Stock Performance

CC stock opened at $15.26 on Tuesday. Chemours has a 1 year low of $10.44 and a 1 year high of $28.67. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -7.99 and a beta of 1.43. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.88 and a current ratio of 1.66. The stock’s fifty day moving average is $18.76 and its two-hundred day moving average is $20.03.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company posted ($2.54) EPS. The firm’s revenue was down 1.5% on a year-over-year basis. On average, research analysts predict that Chemours will post 0.88 EPS for the current year.

Insider Transactions at Chemours

In related news, CFO Shane Hostetter bought 3,350 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average price of $14.94 per share, for a total transaction of $50,049.00. Following the transaction, the chief financial officer directly owned 102,698 shares of the company’s stock, valued at approximately $1,534,308.12. This represents a 3.37% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is owned by corporate insiders.

Institutional Trading of Chemours

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Chemours in the second quarter valued at approximately $477,769,000. Vanguard Group Inc. increased its stake in shares of Chemours by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock valued at $211,287,000 after acquiring an additional 490,778 shares during the period. State Street Corp raised its holdings in Chemours by 22.7% during the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after purchasing an additional 1,131,682 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Chemours by 13.8% during the third quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company’s stock worth $75,971,000 after purchasing an additional 580,089 shares in the last quarter. Finally, UBS Group AG lifted its position in Chemours by 0.3% in the third quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock worth $75,311,000 after purchasing an additional 14,865 shares during the period. 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.