Royal Bank of Canada Reaffirms “Outperform” Rating for Chemours (NYSE:CC)

Chemours (NYSE:CC)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a report issued on Thursday,Benzinga reports. They presently have a $25.00 target price on the specialty chemicals company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 31.27% from the company’s current price.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group decreased their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. Barclays increased their price target on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. BMO Capital Markets lifted their price objective on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Finally, Morgan Stanley lowered their target price on Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.88.

Chemours Trading Down 1.8 %

Shares of Chemours stock opened at $19.05 on Thursday. The company has a 50-day moving average of $19.92 and a two-hundred day moving average of $20.84. Chemours has a 12-month low of $15.10 and a 12-month high of $32.70. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The stock has a market cap of $2.85 billion, a PE ratio of 38.09 and a beta of 1.80.

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

Insiders Place Their Bets

In other news, SVP Alvenia Scarborough sold 7,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Chemours

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of Chemours by 166.9% in 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 period. Matrix Trust Co acquired a new position in shares of Chemours during the 3rd quarter valued at $25,000. Truvestments Capital LLC purchased a new stake in shares of Chemours in the third quarter worth about $35,000. Brooklyn Investment Group acquired a new position in Chemours during the 3rd quarter worth approximately $37,000. Finally, Signaturefd LLC raised its stake in shares of Chemours by 163.7% during the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 1,216 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.