Wall Street Zen Downgrades Chemours (NYSE:CC) to Sell

Chemours (NYSE:CC - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Wednesday.

Several other brokerages have also recently weighed in on CC. UBS Group decreased their price target on shares of Chemours from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Barclays decreased their target price on shares of Chemours from $19.00 to $16.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Mizuho set a $15.00 price target on shares of Chemours in a research report on Tuesday, April 15th. Truist Financial decreased their price objective on Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, BMO Capital Markets dropped their target price on Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Chemours currently has a consensus rating of "Hold" and a consensus price target of $17.56.

Chemours Stock Down 5.1%

CC traded down $0.56 during trading on Wednesday, hitting $10.30. The company had a trading volume of 2,992,136 shares, compared to its average volume of 2,091,743. The firm's 50-day moving average price is $11.88 and its 200 day moving average price is $15.89. The company has a market capitalization of $1.54 billion, a PE ratio of 18.06 and a beta of 1.76. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. Chemours has a one year low of $9.33 and a one year high of $26.98.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The business's revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, equities analysts expect that Chemours will post 2.03 earnings per share for the current year.

Insider Buying and Selling at Chemours

In related news, CFO Shane Hostetter acquired 4,450 shares of Chemours stock in a transaction on Monday, May 19th. The stock was purchased at an average cost of $11.28 per share, with a total value of $50,196.00. Following the completion of the transaction, the chief financial officer now directly owns 59,694 shares in the company, valued at $673,348.32. This trade represents a 8.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

Institutional Trading of Chemours

Hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new position in Chemours in the 1st quarter valued at about $27,000. UMB Bank n.a. increased its stake in shares of Chemours by 73.9% during the first quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 948 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Chemours by 170.7% during the first quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 1,444 shares during the period. SouthState Corp acquired a new stake in Chemours during the 1st quarter worth approximately $34,000. Finally, Quadrant Capital Group LLC boosted its stake in Chemours by 100.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 1,119 shares during the period. Institutional investors and hedge funds 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.