Mizuho Issues Pessimistic Forecast for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its target price dropped by equities researchers at Mizuho from $22.00 to $21.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price objective would suggest a potential upside of 17.52% from the stock’s previous close.

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

Chemours Stock Down 4.7 %

NYSE:CC opened at $17.87 on Tuesday. The firm has a market capitalization of $2.67 billion, a PE ratio of 35.74 and a beta of 1.83. The stock has a 50 day moving average of $19.28 and a 200-day moving average of $19.96. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. Chemours has a 52 week low of $15.10 and a 52 week high of $32.48.

Chemours (NYSE:CC) last posted its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $0.64 EPS. Analysts predict that Chemours will post 1.35 EPS for the current year.

Insider Buying and Selling at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of the business’s stock in a transaction on 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 owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Chemours

Several hedge funds have recently made changes to their positions in CC. Matrix Trust Co bought a new stake in shares of Chemours in the 3rd quarter worth approximately $25,000. Blue Trust Inc. raised its stake in shares of Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 731 shares in the last quarter. GAMMA Investing LLC lifted its position in Chemours by 99.7% in the fourth 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 period. Truvestments Capital LLC acquired a new stake in Chemours during the third quarter worth $35,000. Finally, Brooklyn Investment Group bought a new stake in Chemours in the 3rd quarter valued at $37,000. Institutional investors 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.