Morgan Stanley Has Lowered Expectations for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its target price cut by equities researchers at Morgan Stanley from $22.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price target would indicate a potential upside of 26.00% from the stock’s previous close.

Several other equities analysts have also recently commented on the company. Royal Bank of Canada cut their price target on Chemours from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday. BMO Capital Markets lowered their price target on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Mizuho set a $15.00 target price on shares of Chemours in a research report on Tuesday, April 15th. Barclays dropped their price target on shares of Chemours from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Finally, StockNews.com cut Chemours from a “hold” rating to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Chemours currently has an average rating of “Hold” and a consensus target price of $18.33.

Chemours Stock Performance

Shares of Chemours stock traded up $0.85 during trading on Monday, reaching $11.91. The company’s stock had a trading volume of 2,390,543 shares, compared to its average volume of 1,964,911. The business’s fifty day moving average price is $12.55 and its 200-day moving average price is $16.51. Chemours has a one year low of $9.33 and a one year high of $29.21. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 20.87 and a beta of 1.76. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). Chemours had a return on equity of 26.54% and a net margin of 1.51%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year. As a group, equities research analysts predict that Chemours will post 2.03 earnings per share for the current year.

Institutional Trading of Chemours

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new stake in Chemours in the fourth quarter valued at about $357,000. Entropy Technologies LP bought a new stake in Chemours in the fourth quarter valued at approximately $266,000. Sei Investments Co. boosted its position in shares of Chemours by 779.5% during the fourth quarter. Sei Investments Co. now owns 174,555 shares of the specialty chemicals company’s stock worth $2,950,000 after purchasing an additional 154,709 shares in the last quarter. Twelve Points Wealth Management LLC grew its holdings in shares of Chemours by 42.8% in the 4th quarter. Twelve Points Wealth Management LLC now owns 78,325 shares of the specialty chemicals company’s stock valued at $1,324,000 after buying an additional 23,490 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Chemours in the 4th quarter valued at $515,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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.