Mizuho Forecasts Strong Price Appreciation for Chemours (NYSE:CC) Stock

Chemours (NYSE:CC) had its price objective increased by research analysts at Mizuho from $17.00 to $21.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s target price points to a potential upside of 20.21% from the stock’s previous close.

A number of other research firms also recently issued reports on CC. Morgan Stanley raised their price target on Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Truist Financial upped their price target on shares of Chemours from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. UBS Group increased their price objective on shares of Chemours from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. The Goldman Sachs Group upped their target price on shares of Chemours from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $17.00 price objective on shares of Chemours in a research report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Chemours has an average rating of “Hold” and an average target price of $18.40.

Chemours Stock Down 0.3%

CC stock traded down $0.06 during midday trading on Thursday, hitting $17.47. The company’s stock had a trading volume of 70,265 shares, compared to its average volume of 3,492,103. The company has a market cap of $2.62 billion, a PE ratio of -7.04 and a beta of 1.60. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33. Chemours has a 12 month low of $9.13 and a 12 month high of $21.85. The firm’s 50-day moving average is $16.19 and its 200-day moving average is $14.71.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.Chemours’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the company earned $0.09 EPS. On average, equities research analysts forecast that Chemours will post 2.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chemours

A number of hedge funds have recently bought and sold shares of the business. Entropy Technologies LP boosted its holdings in shares of Chemours by 478.3% in the second quarter. Entropy Technologies LP now owns 62,075 shares of the specialty chemicals company’s stock valued at $711,000 after purchasing an additional 51,341 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Chemours during the 3rd quarter valued at $2,124,000. Vision One Management Partners LP lifted its holdings in shares of Chemours by 10.4% in the 2nd quarter. Vision One Management Partners LP now owns 1,720,189 shares of the specialty chemicals company’s stock worth $19,696,000 after buying an additional 161,691 shares during the period. Geode Capital Management LLC grew its position in shares of Chemours by 41.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,484,416 shares of the specialty chemicals company’s stock worth $39,901,000 after buying an additional 1,020,933 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Chemours by 8.8% during the second quarter. Bank of New York Mellon Corp now owns 1,054,620 shares of the specialty chemicals company’s stock valued at $12,075,000 after buying an additional 85,529 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.