Shares of Chemours Co (NYSE:CC) have earned a consensus rating of “Buy” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $57.95.
CC has been the topic of a number of recent analyst reports. Jefferies Group boosted their target price on Chemours to $66.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. Goldman Sachs Group lowered Chemours from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Wednesday, December 6th. Barclays reaffirmed a “buy” rating and set a $60.00 target price on shares of Chemours in a research report on Wednesday, December 6th. Zacks Investment Research lowered Chemours from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, Morgan Stanley initiated coverage on Chemours in a research report on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 target price on the stock.
In other news, insider Paul Kirsch sold 13,770 shares of Chemours stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $50.01, for a total transaction of $688,637.70. Following the transaction, the insider now owns 63,093 shares in the company, valued at $3,155,280.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Newman sold 29,381 shares of Chemours stock in a transaction on Friday, March 9th. The shares were sold at an average price of $49.19, for a total value of $1,445,251.39. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Strs Ohio purchased a new position in shares of Chemours during the fourth quarter valued at $116,000. Clearbridge LLC grew its stake in Chemours by 93.6% in the fourth quarter. Clearbridge LLC now owns 2,689 shares of the specialty chemicals company’s stock valued at $135,000 after purchasing an additional 1,300 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in Chemours in the third quarter valued at about $202,000. Bell Bank purchased a new position in Chemours in the third quarter valued at about $202,000. Finally, First Allied Advisory Services Inc. purchased a new position in Chemours in the third quarter valued at about $202,000. Institutional investors and hedge funds own 77.83% of the company’s stock.
Chemours (CC) traded up $0.61 on Friday, hitting $49.88. The stock had a trading volume of 998,609 shares, compared to its average volume of 1,779,464. Chemours has a 12 month low of $32.31 and a 12 month high of $58.08. The company has a quick ratio of 1.55, a current ratio of 2.12 and a debt-to-equity ratio of 4.74. The company has a market cap of $9,067.80, a P/E ratio of 12.75, a PEG ratio of 0.60 and a beta of 3.03.
Chemours (NYSE:CC) last posted its quarterly earnings data on Wednesday, February 14th. The specialty chemicals company reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.24. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.55 billion. Chemours had a return on equity of 115.54% and a net margin of 12.06%. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 EPS. research analysts expect that Chemours will post 5.3 earnings per share for the current fiscal year.
Chemours declared that its Board of Directors has authorized a share repurchase plan on Friday, December 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
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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.
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