Chemours (NYSE:CC) Given New $16.00 Price Target at Mizuho

Chemours (NYSE:CC) had its price target hoisted by equities research analysts at Mizuho from $13.00 to $16.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price objective suggests a potential upside of 19.85% from the company’s previous close.

Several other research firms have also recently weighed in on CC. Barclays lowered their price objective on shares of Chemours from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 28th. Wall Street Zen lowered Chemours from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Morgan Stanley reduced their price objective on Chemours from $22.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. UBS Group dropped their target price on Chemours from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, Truist Financial cut their price objective on shares of Chemours from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Chemours presently has a consensus rating of “Hold” and a consensus price target of $17.44.

Chemours Price Performance

Chemours stock traded down $0.14 during midday trading on Tuesday, hitting $13.35. 496,193 shares of the company’s stock were exchanged, compared to its average volume of 2,537,437. The company has a market cap of $2.00 billion, a P/E ratio of 67.13 and a beta of 1.65. The company has a debt-to-equity ratio of 7.01, a quick ratio of 0.83 and a current ratio of 1.75. The stock has a 50-day moving average price of $11.38 and a two-hundred day moving average price of $13.91. Chemours has a 52-week low of $9.13 and a 52-week high of $25.54.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Chemours had a net margin of 0.54% and a return on equity of 23.82%. The business’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. On average, equities research analysts forecast that Chemours will post 2.03 earnings per share for the current year.

Insider Transactions at Chemours

In other Chemours news, insider Damian Gumpel purchased 13,400 shares of the stock in a transaction on Monday, June 2nd. The stock was acquired at an average price of $9.22 per share, with a total value of $123,548.00. Following the transaction, the insider directly owned 123,879 shares of the company’s stock, valued at approximately $1,142,164.38. This trade represents a 12.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Shane Hostetter bought 4,450 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were acquired at an average price of $11.28 per share, with a total value of $50,196.00. Following the acquisition, the chief financial officer owned 59,694 shares of the company’s stock, valued at $673,348.32. This represents a 8.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 25,672 shares of company stock worth $251,573 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Chemours

Several large investors have recently bought and sold shares of CC. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chemours by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,302,272 shares of the specialty chemicals company’s stock valued at $22,008,000 after buying an additional 73,220 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Chemours by 6.8% during the fourth quarter. Victory Capital Management Inc. now owns 110,311 shares of the specialty chemicals company’s stock worth $1,864,000 after acquiring an additional 7,052 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Chemours during the fourth quarter worth about $334,000. Raymond James Financial Inc. purchased a new stake in Chemours in the fourth quarter worth about $2,283,000. Finally, Swiss National Bank increased its stake in shares of Chemours by 1.0% during the fourth quarter. Swiss National Bank now owns 293,500 shares of the specialty chemicals company’s stock valued at $4,960,000 after purchasing an additional 2,800 shares in the last quarter. 76.26% of the stock is owned by institutional investors.

About Chemours

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.