Chemours (NYSE:CC) Stock Rating Lowered by Citigroup

Chemours (NYSE:CC) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, Marketbeat reports. They currently have a $20.00 target price on the specialty chemicals company’s stock, down from their prior target price of $40.00. Citigroup‘s target price would indicate a potential upside of 1.32% from the company’s previous close.

Several other research analysts have also recently issued reports on CC. JPMorgan Chase & Co. restated an “overweight” rating and issued a $72.00 target price (up previously from $70.00) on shares of First Solar in a report on Monday, May 6th. SunTrust Banks initiated coverage on shares of Zillow Group in a research report on Tuesday, July 9th. They set a “buy” rating and a $49.39 price objective for the company. Morgan Stanley restated an “overweight” rating on shares of in a research report on Wednesday, June 19th. Barclays restated a “buy” rating and set a $42.00 price objective on shares of Chemours in a research report on Monday, June 3rd. Finally, Zacks Investment Research downgraded shares of Guardant Health from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $38.10.

NYSE CC opened at $19.74 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.81 and a debt-to-equity ratio of 5.18. Chemours has a 52 week low of $18.74 and a 52 week high of $48.97. The firm has a market cap of $3.24 billion, a PE ratio of 4.05, a PEG ratio of 0.32 and a beta of 2.50. The business’s 50 day moving average price is $22.75.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.30). Chemours had a return on equity of 87.75% and a net margin of 12.60%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm earned $1.41 EPS. The company’s revenue was down 20.5% on a year-over-year basis. Sell-side analysts predict that Chemours will post 3.92 earnings per share for the current year.

In related news, SVP Susan M. Kelliher purchased 6,500 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was acquired at an average price of $23.06 per share, for a total transaction of $149,890.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bradley J. Bell purchased 5,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was bought at an average price of $24.06 per share, with a total value of $120,300.00. The disclosure for this purchase can be found here. Insiders bought a total of 55,500 shares of company stock valued at $1,289,670 in the last quarter. Insiders own 2.34% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. acquired a new stake in shares of Chemours during the 1st quarter worth about $26,000. Investors Research Corp boosted its stake in shares of Chemours by 148.1% during the 2nd quarter. Investors Research Corp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 720 shares during the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of Chemours during the 1st quarter worth about $30,000. Enterprise Financial Services Corp boosted its stake in shares of Chemours by 306.5% during the 1st quarter. Enterprise Financial Services Corp now owns 935 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 705 shares during the last quarter. Finally, Legacy Bridge LLC boosted its stake in shares of Chemours by 100.0% during the 1st quarter. Legacy Bridge LLC now owns 1,200 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 600 shares during the last quarter. 79.86% of the stock is currently owned by hedge funds and other institutional investors.

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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

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Analyst Recommendations for Chemours (NYSE:CC)

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