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

Key Points

• Mizuho lowered Chemours’ price target from $20 to $18 while maintaining an “outperform” rating, implying roughly 31% upside from the prior close.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $19.70. Chemours recently missed quarterly EPS and revenue estimates, while revenue declined 1.5% year over year.
• Insiders have been buying shares, including the CEO and CFO, who each purchased roughly $50,000 worth of stock. Institutional investors own approximately 76.26% of Chemours.

Chemours (NYSE:CC - Get Free Report) had its target price cut by research analysts at Mizuho from $20.00 to $18.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an "outperform" rating on the specialty chemicals company's stock. Mizuho's price objective suggests a potential upside of 30.96% from the stock's previous close.

Other analysts have also issued research reports about the company. The Goldman Sachs Group reissued a "neutral" rating and set a $17.00 price objective on shares of Chemours in a report on Thursday, August 13th. Morgan Stanley set a $18.00 target price on shares of Chemours in a research note on Monday, August 10th. BMO Capital Markets cut their price objective on Chemours from $26.00 to $18.00 and set an "outperform" rating for the company in a research report on Thursday, August 13th. UBS Group reissued a "neutral" rating and set a $18.00 price objective (down from $29.00) on shares of Chemours in a report on Monday, August 10th. Finally, Zacks Research upgraded Chemours from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 10th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $19.70.

Chemours Price Performance

NYSE:CC opened at $13.74 on Wednesday. The stock has a market cap of $2.07 billion, a P/E ratio of -7.20 and a beta of 1.42. Chemours has a one year low of $10.44 and a one year high of $28.67. The company has a fifty day moving average price of $15.54 and a 200 day moving average price of $19.39. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.66 and a quick ratio of 0.88.

Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.07). The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The business's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.54) earnings per share. Analysts anticipate that Chemours will post 0.87 earnings per share for the current year.

Insider Buying and Selling at Chemours

In related news, CEO Denise Dignam bought 3,378 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average price of $14.95 per share, for a total transaction of $50,501.10. Following the completion of the acquisition, the chief executive officer owned 339,916 shares of the company's stock, valued at approximately $5,081,744.20. The trade was a 1.00% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Shane Hostetter bought 3,350 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average price of $14.94 per share, for a total transaction of $50,049.00. Following the completion of the acquisition, the chief financial officer owned 102,698 shares of the company's stock, valued at $1,534,308.12. The trade was a 3.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 8,663 shares of company stock valued at $130,601. 0.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. acquired a new position in shares of Chemours during the 4th quarter worth $31,000. Rothschild Investment LLC boosted its holdings in shares of Chemours by 87.0% during the 4th quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company's stock worth $32,000 after buying an additional 1,255 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Chemours in the second quarter worth $34,000. Allworth Financial LP bought a new stake in Chemours in the 2nd quarter valued at about $51,000. Finally, State of Wyoming bought a new stake in shares of Chemours during the second quarter valued at approximately $67,000. Institutional investors and hedge funds own 76.26% of the company's stock.

About Chemours

The Chemours Company NYSE: CC is a global chemistry company headquartered in Wilmington, Delaware. Formed in 2015 through a spin-off from DuPont, Chemours develops and manufactures chemical products used in industries including transportation, electronics, energy, construction, and consumer goods.

The company operates through businesses focused on thermal and specialized solutions, titanium technologies, and advanced performance materials. Its products include refrigerants and heat-transfer fluids, titanium dioxide pigments used to provide whiteness and opacity in coatings, plastics, and paper, as well as fluoropolymers, specialty fluids, and other performance materials used in demanding industrial applications.

Chemours serves customers in North America, Latin America, Europe, the Asia-Pacific region, and other international markets through manufacturing facilities, research and development operations, and commercial activities around the world.

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