BMO Capital Markets Issues Pessimistic Forecast for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its target price reduced by BMO Capital Markets from $34.00 to $27.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ target price indicates a potential upside of 58.91% from the stock’s current price.

A number of other research firms have also weighed in on CC. Morgan Stanley cut their target price on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Mizuho dropped their price objective on shares of Chemours from $22.00 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 set a $25.00 target price on shares of Chemours in a research report on Thursday, December 12th. The Goldman Sachs Group dropped their price target on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Truist Financial began coverage on Chemours in a research note on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.56.

Chemours Price Performance

Shares of CC stock traded down $0.49 during mid-day trading on Wednesday, hitting $16.99. The company had a trading volume of 820,023 shares, compared to its average volume of 1,704,536. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92. The stock’s 50 day moving average price is $18.21 and its 200-day moving average price is $18.95. Chemours has a 52-week low of $15.10 and a 52-week high of $29.83. The company has a market capitalization of $2.54 billion, a P/E ratio of 34.00 and a beta of 1.81.

Chemours (NYSE:CC) last released its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. Equities research analysts forecast that Chemours will post 1.21 earnings per share for the current year.

Institutional Trading of Chemours

A number of large investors have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Chemours by 3.5% during the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock valued at $368,650,000 after purchasing an additional 618,361 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Chemours by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company’s stock valued at $257,285,000 after acquiring an additional 94,885 shares during the period. Ameriprise Financial Inc. raised its position in shares of Chemours by 23.8% in the 4th quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company’s stock worth $73,907,000 after acquiring an additional 839,849 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Chemours by 44.6% during the 4th quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company’s stock worth $42,373,000 after purchasing an additional 773,537 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Chemours by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock worth $50,646,000 after purchasing an additional 28,803 shares during the last quarter. Hedge funds and other 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.