The Goldman Sachs Group Has Lowered Expectations for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its price target dropped by The Goldman Sachs Group from $24.00 to $21.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 17.52% from the stock’s current price.

CC has been the topic of several other reports. Barclays upped 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. BMO Capital Markets boosted their price target on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Chemours in a research report on Thursday, December 12th. Finally, Morgan Stanley cut their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $24.13.

Chemours Stock Down 4.7 %

Shares of NYSE:CC opened at $17.87 on Tuesday. The firm has a fifty day moving average price of $19.28 and a two-hundred day moving average price of $19.96. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 35.74 and a beta of 1.83. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92. Chemours has a one year low of $15.10 and a one year high of $32.48.

Chemours (NYSE:CC) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. Analysts anticipate 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 business’s stock in a transaction that occurred on 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 in the company, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System grew its holdings in Chemours by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock worth $940,000 after acquiring an additional 863 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Chemours by 12.0% in the second quarter. Texas Permanent School Fund Corp now owns 145,289 shares of the specialty chemicals company’s stock worth $3,279,000 after purchasing an additional 15,527 shares during the last quarter. LGT Fund Management Co Ltd. increased its holdings in Chemours by 79.4% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 229,483 shares of the specialty chemicals company’s stock valued at $5,179,000 after purchasing an additional 101,538 shares during the period. SIR Capital Management L.P. raised its position in Chemours by 51.4% during the 2nd quarter. SIR Capital Management L.P. now owns 595,435 shares of the specialty chemicals company’s stock valued at $13,439,000 after purchasing an additional 202,054 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in Chemours by 315.8% in the 2nd quarter. Headlands Technologies LLC now owns 6,641 shares of the specialty chemicals company’s stock worth $150,000 after buying an additional 5,044 shares during the period. Institutional investors own 76.26% of the company’s stock.

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.