Truist Financial Initiates Coverage on Chemours (NYSE:CC)

Equities research analysts at Truist Financial started coverage on shares of Chemours (NYSE:CC) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $27.00 price target on the specialty chemicals company’s stock. Truist Financial’s price objective indicates a potential upside of 41.42% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Morgan Stanley cut their price target 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 cut their target price on 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 reissued an “outperform” rating and set a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. Barclays raised their price objective on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group lowered their target price on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Chemours presently has a consensus rating of “Hold” and an average price target of $24.11.

Chemours Stock Down 2.9 %

CC stock opened at $19.09 on Tuesday. 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 business’s fifty day moving average price is $19.18 and its two-hundred day moving average price is $19.59. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $31.76. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 38.18 and a beta of 1.83.

Chemours (NYSE:CC) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the firm posted $0.64 EPS. Chemours’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts anticipate that Chemours will post 1.19 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Alvenia Scarborough sold 7,500 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the sale, the senior vice president now owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chemours

Several large investors have recently modified their holdings of CC. KBC Group NV boosted its position in shares of Chemours by 19.5% during the 3rd quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock worth $91,000 after purchasing an additional 728 shares in the last quarter. Blue Trust Inc. boosted its holdings in Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 731 shares in the last quarter. GAMMA Investing LLC grew its stake in Chemours by 99.7% in the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 765 shares during the period. ARGA Investment Management LP increased its holdings in shares of Chemours by 0.7% during the fourth quarter. ARGA Investment Management LP now owns 148,614 shares of the specialty chemicals company’s stock valued at $2,512,000 after acquiring an additional 1,032 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Chemours by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 17,205 shares of the specialty chemicals company’s stock worth $349,000 after purchasing an additional 1,175 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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, 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.