Chemours (NYSE:CC) Given New $14.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its Chemours price target from $15 to $14 while maintaining a “neutral” rating; the new target implies 4.36% upside from the prior close.
• Analyst views are mixed but lean toward “Hold”: three rate the stock Buy, eight Hold, and two Sell, with a consensus price target of $17.36.
• Chemours’ third-quarter EPS of $0.21 missed the $0.26 estimate, although revenue rose 3% year over year to $1.54 billion. Shares gained 5.2% in Monday trading.

Chemours (NYSE:CC - Get Free Report) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $15.00 to $14.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the specialty chemicals company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 4.36% from the company's previous close.

Several other equities analysts have also commented on the company. Morgan Stanley set a $18.00 target price on Chemours in a research note on Monday, August 10th. UBS Group decreased their price target on Chemours from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 4th. Zacks Research cut Chemours from a "hold" rating to a "strong sell" rating in a report on Wednesday, November 4th. BMO Capital Markets dropped their price objective on shares of Chemours from $26.00 to $18.00 and set an "outperform" rating for the company in a research note on Thursday, August 13th. Finally, Mizuho lowered shares of Chemours from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $18.00 to $15.00 in a report on Wednesday, October 14th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Chemours currently has a consensus rating of "Hold" and a consensus target price of $17.36.

Chemours Trading Up 5.2%

Shares of NYSE:CC traded up $0.67 during trading on Monday, reaching $13.41. The stock had a trading volume of 1,825,922 shares, compared to its average volume of 2,819,766. The company has a quick ratio of 0.98, a current ratio of 1.81 and a debt-to-equity ratio of 24.25. The stock has a market cap of $2.02 billion, a P/E ratio of -13.13 and a beta of 1.47. The business has a fifty day moving average price of $13.96 and a 200-day moving average price of $18.22. Chemours has a fifty-two week low of $10.44 and a fifty-two week high of $28.67.

Chemours (NYSE:CC - Get Free Report) last released its earnings results on Monday, November 2nd. The specialty chemicals company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). Chemours had a positive return on equity of 76.52% and a negative net margin of 2.64%. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm's revenue was up 3.0% on a year-over-year basis. As a group, analysts anticipate that Chemours will post 0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chemours news, insider Calderon Gerardo Familiar purchased 1,935 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average price of $15.53 per share, for a total transaction of $30,050.55. Following the completion of the acquisition, the insider owned 58,547 shares of the company's stock, valued at approximately $909,234.91. This represents a 3.42% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Denise Dignam purchased 3,378 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average price of $14.95 per share, for a total transaction of $50,501.10. Following the acquisition, the chief executive officer directly owned 339,916 shares of the company's stock, valued at $5,081,744.20. This trade represents a 1.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chemours

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Chemours during the 2nd quarter valued at about $477,769,000. Wolf Hill Capital Management LP purchased a new position in shares of Chemours during the 2nd quarter valued at approximately $59,698,056. Jefferies Financial Group Inc. boosted its stake in shares of Chemours by 251.8% during the 3rd quarter. Jefferies Financial Group Inc. now owns 2,742,068 shares of the specialty chemicals company's stock valued at $37,210,000 after buying an additional 1,962,523 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Chemours during the second quarter worth approximately $33,353,000. Finally, Bank of America Corp DE grew its position in shares of Chemours by 79.1% during the first quarter. Bank of America Corp DE now owns 1,317,003 shares of the specialty chemicals company's stock worth $29,014,000 after buying an additional 581,621 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

More Chemours News

Here are the key news stories impacting Chemours this week:

• Positive Sentiment: Chemours’ Faizeon cooling launch targets AI data centers, a potentially attractive growth market. The opportunity may take time to translate into meaningful revenue. Read More.
• Neutral Sentiment: An analyst roundup reports that Wall Street’s rating on CC is “Hold,” suggesting a cautious, balanced view. Read More.
• Negative Sentiment: Chemours’ third-quarter earnings missed analyst expectations as weak Thermal & Specialized Solutions (TSS) volumes outweighed stronger titanium dioxide pricing and growth in Advanced Performance Materials (APM). Read More.
• Negative Sentiment: Several law firms publicized a securities class action and the December 7 lead-plaintiff deadline. The lawsuit alleges Chemours misrepresented demand trends, including the effect of excess inventory in the Opteon aftermarket channel. These are allegations, not proven findings, but the litigation and related claims could weigh on investor sentiment. Read More.

About Chemours

The Chemours Company is a global chemicals manufacturer spun off from DuPont in 2015 and headquartered in Wilmington, Delaware. It develops and produces materials used in industries ranging from construction and transportation to electronics and energy.

Chemours' Titanium Technologies business makes titanium dioxide (TiO₂) pigment, sold under the Ti-Pure brand, which is used to add whiteness, brightness and opacity to products such as paints, coatings, plastics and paper.

Its Thermal & Specialized Solutions business supplies refrigerants, foam-blowing agents and other specialty fluids, including products marketed under the Opteon and Freon brands.

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