JPMorgan Chase & Co. Cuts Chemours (NYSE:CC) Price Target to $15.00

Chemours (NYSE:CC) had its target price dropped by investment analysts at JPMorgan Chase & Co. from $22.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 0.62% from the company’s current price.

CC has been the subject of a number of other research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.00 price target on shares of Chemours in a research report on Thursday. UBS Group reissued a “neutral” rating and set a $18.00 target price (down from $29.00) on shares of Chemours in a research note on Monday. Alembic Global Advisors reissued an “overweight” rating and set a $30.00 target price on shares of Chemours in a research note on Wednesday, May 13th. Royal Bank Of Canada decreased their target price on Chemours from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Finally, Weiss Ratings lowered Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.10.

Chemours Trading Down 1.0%

Chemours stock traded down $0.15 during trading hours on Thursday, reaching $15.09. The stock had a trading volume of 795,837 shares, compared to its average volume of 3,090,842. The stock has a market cap of $2.27 billion, a PE ratio of -7.92 and a beta of 1.43. Chemours has a 52 week low of $10.44 and a 52 week high of $28.67. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.66 and a quick ratio of 0.88. The company has a fifty day simple moving average of $18.76 and a 200-day simple moving average of $20.03.

Chemours (NYSE:CC) last issued its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.65 billion. Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The business’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the company posted ($2.54) earnings per share. Analysts forecast that Chemours will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling at Chemours

In other Chemours news, CFO Shane Hostetter purchased 3,350 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average cost of $14.94 per share, for a total transaction of $50,049.00. Following the purchase, the chief financial officer directly owned 102,698 shares in the company, valued at $1,534,308.12. The trade was a 3.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chemours

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Chemours in the 2nd quarter worth approximately $477,769,000. Cooper Creek Partners Management LLC purchased a new position in Chemours during the third quarter valued at $63,103,000. Bank of New York Mellon Corp bought a new stake in Chemours in the second quarter worth $33,353,000. Scopia Capital Management LP boosted its holdings in Chemours by 71.7% in the second quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after acquiring an additional 1,401,539 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after acquiring an additional 1,131,682 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.