Chemours (NYSE:CC) Given New $30.00 Price Target at Truist Financial

Key Points

• Truist Financial raised its price target on Chemours to $30.00 (from $27) and kept a "buy" rating, implying roughly a 13.3% upside from the current price.
• Analyst coverage is mixed—five Buys, six Holds and one Sell—with a consensus price target of $20.70 and an average rating of "Hold."
• Chemours shares recently opened at $26.48 (12‑month range $9.13–$26.98), the company has a market cap of $3.97B and a negative PE of -10.68, and it reported an EPS beat last quarter ($0.05 vs. $0.01) despite revenue down 2.2% YoY and a negative net margin of 6.41%.

Chemours (NYSE:CC - Get Free Report) had its price objective increased by equities research analysts at Truist Financial from $27.00 to $30.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the specialty chemicals company's stock. Truist Financial's price target suggests a potential upside of 13.31% from the stock's current price.

CC has been the subject of several other reports. Mizuho raised their price objective on Chemours from $17.00 to $21.00 and gave the company an "outperform" rating in a research note on Thursday, March 5th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $17.00 price objective on shares of Chemours in a research note on Monday, February 23rd. Zacks Research raised Chemours from a "strong sell" rating to a "hold" rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on Chemours from $13.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, February 23rd. Finally, UBS Group raised their price objective on Chemours from $23.00 to $29.00 and gave the company a "buy" rating in a research note on Thursday, April 9th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $20.70.

Chemours Price Performance

Shares of Chemours stock opened at $26.48 on Tuesday. The stock has a 50 day moving average of $20.41 and a 200 day moving average of $16.11. Chemours has a 12 month low of $9.13 and a 12 month high of $26.98. The firm has a market cap of $3.97 billion, a PE ratio of -10.68 and a beta of 1.41. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.04. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the company earned $0.09 earnings per share. The firm's revenue was down 2.2% on a year-over-year basis. On average, research analysts expect that Chemours will post 1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Chemours

A number of institutional investors and hedge funds have recently modified their holdings of CC. Cooper Creek Partners Management LLC bought a new stake in shares of Chemours during the 3rd quarter worth approximately $63,103,000. Scopia Capital Management LP increased its holdings in Chemours by 71.7% during the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company's stock worth $38,418,000 after purchasing an additional 1,401,539 shares during the period. State Street Corp increased its holdings in Chemours by 22.7% during the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company's stock worth $70,009,000 after purchasing an additional 1,131,682 shares during the period. Wolf Hill Capital Management LP purchased a new position in Chemours during the 3rd quarter worth $17,025,000. Finally, Sona Asset Management US LLC increased its holdings in Chemours by 176.9% during the 4th quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company's stock worth $19,469,000 after purchasing an additional 1,055,000 shares during the period. 76.26% of the stock is owned by institutional investors.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours' principal business activities are organized into three core segments.

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