Chemours (NYSE:CC) Given New $30.00 Price Target at BMO Capital Markets

Chemours (NYSE:CC) had its price objective cut by investment analysts at BMO Capital Markets from $35.00 to $30.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ target price points to a potential upside of 68.35% from the company’s previous close.

Several other research firms have also commented on CC. UBS Group upgraded shares of Chemours from a “neutral” rating to a “buy” rating and upped their price target for the stock from $28.00 to $30.00 in a research report on Tuesday, July 9th. Mizuho initiated coverage on shares of Chemours in a research report on Friday, June 7th. They set a “neutral” rating and a $25.00 price target for the company. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.63.

Chemours Stock Down 4.8 %

CC stock opened at $17.82 on Tuesday. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.61 and a quick ratio of 0.99. Chemours has a 1-year low of $15.10 and a 1-year high of $37.14. The firm has a fifty day moving average price of $23.33 and a two-hundred day moving average price of $26.16. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -8.21 and a beta of 1.80.

Chemours (NYSE:CC) last released its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.19). The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a net margin of 2.16% and a return on equity of 32.93%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 EPS. Research analysts predict that Chemours will post 1.81 EPS for the current year.

Institutional Investors Weigh In On Chemours

Several institutional investors have recently bought and sold shares of CC. Hexagon Capital Partners LLC acquired a new stake in Chemours in the fourth quarter worth about $25,000. New Covenant Trust Company N.A. acquired a new stake in Chemours in the first quarter worth about $29,000. North Star Investment Management Corp. lifted its holdings in Chemours by 1,510.0% in the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,208 shares during the period. Morton Brown Family Wealth LLC acquired a new stake in Chemours in the fourth quarter worth about $35,000. Finally, Sunbelt Securities Inc. lifted its holdings in Chemours by 1,969.7% in the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

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.