Chemours (NYSE:CC) Research Coverage Started at Truist Financial

Truist Financial initiated coverage on shares of Chemours (NYSE:CC) in a research note issued to investors on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $27.00 target price on the specialty chemicals company’s stock.

Several other analysts have also recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. BMO Capital Markets increased 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. The Goldman Sachs Group dropped their price objective on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. Finally, Barclays lifted their price target on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.11.

Chemours Stock Up 2.0 %

Chemours stock opened at $19.34 on Tuesday. The firm has a 50 day simple moving average of $19.14 and a 200 day simple moving average of $19.54. 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 1-year low of $15.10 and a 1-year high of $31.76. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 38.67 and a beta of 1.83.

Chemours (NYSE:CC) last released its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts predict that Chemours will post 1.19 earnings per share for the current year.

Insiders Place Their Bets

In other Chemours 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 value of $154,800.00. Following the completion of the sale, the senior vice president now directly owns 16,645 shares of the company’s stock, valued at $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Chemours

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in Chemours in the 2nd quarter worth approximately $2,480,000. Sei Investments Co. increased its stake in shares of Chemours by 15.0% in the second quarter. Sei Investments Co. now owns 17,866 shares of the specialty chemicals company’s stock worth $403,000 after buying an additional 2,325 shares during the period. Bank of Montreal Can boosted its position in Chemours by 34.1% during the 2nd quarter. Bank of Montreal Can now owns 97,658 shares of the specialty chemicals company’s stock valued at $2,373,000 after buying an additional 24,820 shares during the period. AQR Capital Management LLC raised its stake in Chemours by 28.1% in the second quarter. AQR Capital Management LLC now owns 158,585 shares of the specialty chemicals company’s stock worth $3,579,000 after buying an additional 34,817 shares in the last quarter. Finally, Matrix Trust Co purchased a new stake in Chemours in the third quarter worth about $25,000. 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.