Chemours Company (The) (NYSE:CC) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Chemours Company (The) (NYSE:CC) from a strong-buy rating to a hold rating in a report released on Wednesday, October 18th.

According to Zacks, “Chemours Company is involved in chemical business. It operating segment consists of Titanium Technologies, Fluoroproducts and Chemical Solutions. Titanium Technologies segment produces titanium dioxide and premium white pigment. Fluoroproducts segment provides fluoroproducts, refrigerants and industrial fluoropolymer resins. Chemical Solutions segment provides industrial and specialty chemicals. The company’s brand consists of Teflon(R), Ti-Pure(R), Krytox(R) Viton(R), Opteon(R) and Nafion(R). Chemours Company is headquartered in Wilmington. “

A number of other research firms also recently weighed in on CC. Citigroup Inc. upgraded Chemours Company (The) from a neutral rating to a buy rating and upped their target price for the company from $43.00 to $45.00 in a research report on Wednesday, July 5th. BidaskClub raised Chemours Company (The) from a hold rating to a buy rating in a research note on Wednesday, July 12th. Jefferies Group LLC reissued a buy rating and issued a $50.00 price target (up previously from $48.00) on shares of Chemours Company (The) in a research note on Thursday, July 13th. JPMorgan Chase & Co. increased their price target on Chemours Company (The) to $55.00 and gave the company an overweight rating in a research note on Friday, August 4th. Finally, UBS AG raised Chemours Company (The) from a sell rating to a neutral rating and increased their price target for the company from $36.00 to $50.00 in a research note on Monday, August 7th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Chemours Company (The) has an average rating of Buy and an average target price of $52.75.

Chemours Company (NYSE:CC) traded up 1.10% during mid-day trading on Wednesday, hitting $57.23. 1,486,493 shares of the stock were exchanged. Chemours Company has a 12-month low of $15.90 and a 12-month high of $58.08. The stock has a market capitalization of $10.58 billion, a P/E ratio of 37.45 and a beta of 3.59. The firm has a 50-day moving average price of $52.88 and a 200-day moving average price of $45.07.

Chemours Company (The) (NYSE:CC) last posted its earnings results on Wednesday, August 2nd. The specialty chemicals company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Chemours Company (The) had a return on equity of 122.97% and a net margin of 4.96%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm earned $0.27 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. Equities analysts predict that Chemours Company will post $3.57 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Chemours Company (The) (NYSE:CC) Cut to “Hold” at Zacks Investment Research” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2017/10/27/chemours-company-the-cc-lowered-to-hold-at-zacks-investment-research.html.

In related news, SVP David C. Shelton sold 5,908 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $56.01, for a total transaction of $330,907.08. Following the completion of the sale, the senior vice president now owns 47,356 shares of the company’s stock, valued at $2,652,409.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amy Trojanowski sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $46.03, for a total value of $115,075.00. The disclosure for this sale can be found here. Insiders have sold 77,142 shares of company stock valued at $3,953,265 in the last ninety days. 1.14% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in CC. Stifel Financial Corp grew its stake in Chemours Company (The) by 6.3% in the first quarter. Stifel Financial Corp now owns 19,401 shares of the specialty chemicals company’s stock valued at $749,000 after acquiring an additional 1,146 shares during the period. Neuberger Berman Group LLC grew its stake in Chemours Company (The) by 1.5% in the first quarter. Neuberger Berman Group LLC now owns 9,579 shares of the specialty chemicals company’s stock valued at $369,000 after acquiring an additional 141 shares during the period. Credit Agricole S A acquired a new stake in Chemours Company (The) in the first quarter valued at approximately $910,000. Teachers Advisors LLC grew its stake in Chemours Company (The) by 3.3% in the first quarter. Teachers Advisors LLC now owns 319,341 shares of the specialty chemicals company’s stock valued at $12,295,000 after acquiring an additional 10,093 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in Chemours Company (The) in the first quarter valued at approximately $1,592,000. 72.77% of the stock is owned by hedge funds and other institutional investors.

About Chemours Company (The)

The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.

Get a free copy of the Zacks research report on Chemours Company (The) (CC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Chemours Company (The) (NYSE:CC)

Receive News & Ratings for Chemours Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply