Morgan Stanley Issues Pessimistic Forecast for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its target price lowered by equities researchers at Morgan Stanley from $25.00 to $22.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price target points to a potential upside of 20.68% from the stock’s previous close.

A number of other brokerages have also issued reports on CC. Barclays raised their target price on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Chemours in a report on Thursday, December 12th. 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. Mizuho reduced their price target 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. Finally, The Goldman Sachs Group cut their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.75.

Chemours Stock Up 3.3 %

NYSE:CC traded up $0.59 during trading hours on Monday, reaching $18.23. The company’s stock had a trading volume of 458,978 shares, compared to its average volume of 1,642,620. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The company has a market capitalization of $2.72 billion, a P/E ratio of 36.46 and a beta of 1.83. The stock has a 50 day moving average price of $19.27 and a two-hundred day moving average price of $19.86. Chemours has a 12 month low of $15.10 and a 12 month high of $32.48.

Chemours (NYSE:CC) last announced its earnings results 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. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. Chemours’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. Equities analysts predict that Chemours will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Alvenia Scarborough sold 7,500 shares of the company’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 transaction, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of Chemours

Several institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 731 shares during the period. Matrix Trust Co acquired a new stake in Chemours during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC boosted its position 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 buying an additional 765 shares during the period. Truvestments Capital LLC acquired a new position in shares of Chemours in the third quarter worth $35,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Chemours during the third quarter worth $37,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

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.