Chemours (NYSE:CC) Price Target Cut to $19.00 by Analysts at Barclays

Chemours (NYSE:CC) had its price target dropped by stock analysts at Barclays from $23.00 to $19.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s target price indicates a potential upside of 13.31% from the stock’s previous close.

CC has been the topic of a number of other research reports. Truist Financial initiated coverage on shares of Chemours in a research report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 target price on the stock. BMO Capital Markets lowered their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Mizuho cut their target price on Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group lowered 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, Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.11.

Chemours Stock Performance

Chemours stock opened at $16.77 on Monday. The firm has a 50 day simple moving average of $18.09 and a 200-day simple moving average of $18.92. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 29.42 and a beta of 1.81. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. Chemours has a 1-year low of $15.10 and a 1-year high of $29.83.

Chemours (NYSE:CC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, analysts expect that Chemours will post 2.03 EPS for the current year.

Hedge Funds Weigh In On Chemours

Several hedge funds have recently added to or reduced their stakes in CC. iSAM Funds UK Ltd purchased a new position in shares of Chemours in the 4th quarter valued at $332,000. Vision One Management Partners LP boosted its stake in Chemours by 12.1% in the fourth quarter. Vision One Management Partners LP now owns 1,558,498 shares of the specialty chemicals company’s stock valued at $26,339,000 after acquiring an additional 168,148 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of Chemours by 31.5% during the fourth quarter. Two Sigma Advisers LP now owns 661,500 shares of the specialty chemicals company’s stock worth $11,179,000 after purchasing an additional 158,400 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Chemours by 22.4% during the fourth quarter. Two Sigma Investments LP now owns 1,155,437 shares of the specialty chemicals company’s stock worth $19,527,000 after purchasing an additional 211,641 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Chemours in the 4th quarter valued at about $208,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

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.