Chemours (NYSE:CC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Chemours should gain from strong demand for Ti-Pure titanium dioxide and Opteon refrigerant as well as the ICOR International buyout. Its cost management and pricing actions should also provide support to its margins. However, higher costs of key raw materials are likely to weigh on the company’s margins. Chemours is also seeing pressure on Ti-Pure TiO2 volumes due to customer destocking. Lower volumes are expected to hurt results in the Titanium Technologies segment in the first quarter of 2019. The company’s high balance sheet leverage is another concern. It has also underperformed the industry it belongs to over a year.”
A number of other equities research analysts have also recently commented on the company. ValuEngine raised Chemours from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 20th. Citigroup reissued a “buy” rating and issued a $43.00 target price on shares of Chemours in a research note on Wednesday, February 20th. SunTrust Banks boosted their target price on Chemours to $40.00 and gave the company a “hold” rating in a research note on Tuesday, February 19th. Susquehanna Bancshares reissued a “neutral” rating and issued a $37.00 target price on shares of Chemours in a research note on Tuesday, February 19th. Finally, Barclays reissued a “buy” rating and issued a $48.00 target price on shares of Chemours in a research note on Tuesday, January 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $48.13.
Shares of Chemours stock traded up $0.83 during trading on Monday, reaching $38.72. 40,938 shares of the company were exchanged, compared to its average volume of 1,629,077. The company has a quick ratio of 1.26, a current ratio of 1.93 and a debt-to-equity ratio of 3.88. Chemours has a twelve month low of $25.17 and a twelve month high of $53.25. The stock has a market cap of $6.46 billion, a PE ratio of 6.83, a price-to-earnings-growth ratio of 0.53 and a beta of 2.31.
Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, February 14th. The specialty chemicals company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. Chemours had a return on equity of 98.83% and a net margin of 14.99%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm earned $1.19 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. Analysts expect that Chemours will post 4.69 EPS for the current fiscal year.
In other news, VP Amy Trojanowski sold 13,536 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $38.63, for a total transaction of $522,895.68. Following the completion of the transaction, the vice president now directly owns 54,367 shares of the company’s stock, valued at $2,100,197.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Kirsch sold 10,000 shares of the company’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $38.66, for a total value of $386,600.00. The disclosure for this sale can be found here. Insiders have sold 101,924 shares of company stock valued at $3,924,730 over the last ninety days. 1.75% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CC. Financial Architects Inc raised its holdings in Chemours by 39.2% during the fourth quarter. Financial Architects Inc now owns 1,421 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 400 shares in the last quarter. Lavaca Capital LLC bought a new stake in Chemours in the fourth quarter valued at approximately $44,000. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in Chemours by 357.1% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,200 shares of the specialty chemicals company’s stock valued at $90,000 after buying an additional 2,500 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Chemours by 3,583.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,675,256 shares of the specialty chemicals company’s stock valued at $95,000 after buying an additional 2,602,624 shares during the period. Finally, Penserra Capital Management LLC raised its stake in Chemours by 122.6% in the fourth quarter. Penserra Capital Management LLC now owns 4,167 shares of the specialty chemicals company’s stock valued at $116,000 after buying an additional 2,295 shares during the period. Institutional investors and hedge funds own 79.49% of the company’s stock.
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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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