Chemours (NYSE:CC) Price Target Lowered to $21.00 at The Goldman Sachs Group

Chemours (NYSE:CC) had its price target decreased by analysts at The Goldman Sachs Group from $24.00 to $21.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 24.11% from the stock’s previous close.

CC has been the topic of several other research reports. BMO Capital Markets upped their target price on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. Morgan Stanley cut their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Finally, Barclays increased their price objective on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.63.

Chemours Price Performance

Shares of NYSE:CC opened at $16.92 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. Chemours has a 12 month low of $15.10 and a 12 month high of $32.48. The stock has a market capitalization of $2.53 billion, a PE ratio of 33.84 and a beta of 1.83. The firm has a 50 day moving average of $19.28 and a 200-day moving average of $20.00.

Chemours (NYSE:CC) last posted its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating 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 firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the company earned $0.64 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, equities research analysts predict that Chemours will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Chemours

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s 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 transaction, the senior vice president now owns 16,645 shares in the company, valued at $343,552.80. This trade represents a 31.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Chemours

A number of institutional investors and hedge funds have recently bought and sold shares of CC. Appian Way Asset Management LP purchased a new stake in Chemours during the third quarter valued at about $34,151,000. Vision One Management Partners LP bought a new stake in Chemours in the third quarter worth $28,252,000. Marshall Wace LLP boosted its position in Chemours by 23.8% during the second quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock valued at $158,213,000 after buying an additional 1,347,710 shares during the period. Khrom Capital Management LLC increased its holdings in shares of Chemours by 54.6% in the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock worth $78,016,000 after buying an additional 1,220,967 shares during the period. Finally, Scopia Capital Management LP purchased a new stake in shares of Chemours during the third quarter valued at approximately $13,623,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

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.