Mizuho Lowers Chemours (NYSE:CC) Price Target to $21.00

Chemours (NYSE:CC) had its target price cut by Mizuho from $22.00 to $21.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price objective would indicate a potential upside of 17.52% from the stock’s current price.

Several other research analysts also recently weighed in on CC. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. BMO Capital Markets boosted their price objective on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Morgan Stanley lowered their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Barclays boosted their price target on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group lowered their price objective on Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chemours presently has a consensus rating of “Hold” and an average price target of $24.13.

Chemours Stock Performance

Shares of Chemours stock opened at $17.87 on Tuesday. The firm’s fifty day simple moving average is $19.28 and its 200-day simple moving average is $19.96. Chemours has a 12 month low of $15.10 and a 12 month high of $32.48. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 35.74 and a beta of 1.83. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92.

Chemours (NYSE:CC) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. Chemours’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. As a group, equities analysts forecast that Chemours will post 1.35 earnings per share for the current year.

Insider Transactions at Chemours

In other news, SVP Alvenia Scarborough sold 7,500 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total value of $154,800.00. Following the sale, the senior vice president now directly owns 16,645 shares in the company, valued at $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CC. Khrom Capital Management LLC raised its position in shares of Chemours by 54.6% in the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock valued at $78,016,000 after buying an additional 1,220,967 shares during the last quarter. Vision One Management Partners LP acquired a new position in Chemours in the 3rd quarter valued at $28,252,000. Two Sigma Advisers LP lifted its stake in shares of Chemours by 9.4% during the 3rd quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company’s stock worth $10,223,000 after purchasing an additional 43,200 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Chemours during the second quarter worth $789,000. Finally, Geode Capital Management LLC grew its position in shares of Chemours by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock valued at $50,646,000 after purchasing an additional 28,803 shares during the period. Institutional investors and hedge funds own 76.26% 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, 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.