Morgan Stanley Has Lowered Expectations for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its price target decreased by stock analysts at Morgan Stanley from $25.00 to $22.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Morgan Stanley’s target price suggests a potential upside of 18.15% from the stock’s current price.

Several other equities research analysts also recently issued reports on CC. Mizuho lowered their price objective on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 target price on shares of Chemours in a report on Thursday, December 12th. The Goldman Sachs Group cut their price target on Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. BMO Capital Markets increased their price objective on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Finally, Barclays boosted their target price on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.75.

Chemours Stock Performance

CC stock opened at $18.62 on Monday. Chemours has a 1-year low of $15.10 and a 1-year high of $32.48. The business’s 50-day moving average price is $19.23 and its two-hundred day moving average price is $19.83. The firm has a market cap of $2.78 billion, a PE ratio of 37.24 and a beta of 1.83. 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 (NYSE:CC) last released its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share 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 business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business posted $0.64 EPS. Chemours’s revenue for the quarter was up .9% on a year-over-year basis. As a group, research analysts forecast that Chemours will post 1.35 earnings per share for the current year.

Insider Activity at Chemours

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

Institutional Trading of Chemours

Institutional investors and hedge funds have recently bought and sold shares of the business. Matrix Trust Co acquired a new stake in shares of Chemours during the 3rd quarter worth about $25,000. Blue Trust Inc. raised its holdings in Chemours by 166.9% in the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 731 shares during the period. GAMMA Investing LLC raised its holdings in Chemours by 99.7% in the 4th 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. Truvestments Capital LLC acquired a new stake in Chemours during the third quarter worth approximately $35,000. Finally, Brooklyn Investment Group bought a new stake in shares of Chemours during the third quarter worth approximately $37,000. 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.