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

Chemours (NYSE:CC) had its price objective decreased by equities researchers at Mizuho from $22.00 to $21.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price target suggests a potential upside of 14.19% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. The Goldman Sachs Group cut their target price on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday. BMO Capital Markets lifted their price target on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Barclays increased their price objective on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley decreased their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.13.

Chemours Stock Performance

Shares of CC stock traded up $1.46 during midday trading on Tuesday, hitting $18.39. The company had a trading volume of 703,510 shares, compared to its average volume of 1,154,895. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 36.78 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. The company’s 50 day simple moving average is $19.28 and its 200 day simple moving average is $20.00. Chemours has a 52-week low of $15.10 and a 52-week high of $32.48.

Chemours (NYSE:CC) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm 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 last year, the firm posted $0.64 EPS. Research analysts anticipate that Chemours will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Alvenia Scarborough sold 7,500 shares of the company’s stock in a transaction that occurred 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 owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This represents a 31.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Chemours

Institutional investors have recently made changes to their positions in the stock. Matrix Trust Co purchased a new stake in Chemours during the 3rd quarter worth about $25,000. Blue Trust Inc. boosted its stake in shares of Chemours by 166.9% during the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 731 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Chemours by 99.7% during the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 765 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Chemours during the third quarter worth about $35,000. Finally, Brooklyn Investment Group acquired a new position in shares of Chemours in the third quarter valued at approximately $37,000. 76.26% of the stock is 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.