UBS Group Issues Positive Forecast for Chemours (NYSE:CC) Stock Price

Key Points

• UBS raised its price target on Chemours to $29 (from $23) and keeps a "buy" rating, implying roughly a 32.7% upside from the current price.
• Analyst consensus remains more cautious: the market consensus rating is "Hold" with an average price target of $19.60 (5 Buy, 5 Hold, 2 Sell).
• Chemours traded near $21.86 with a $3.28B market cap; it recently beat quarterly EPS estimates ($0.05 vs. $0.01) but reported a negative net margin (-6.41%) and year-over-year revenue decline.

Chemours (NYSE:CC - Get Free Report) had its target price hoisted by analysts at UBS Group from $23.00 to $29.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the specialty chemicals company's stock. UBS Group's price target suggests a potential upside of 32.66% from the company's current price.

CC has been the subject of a number of other research reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $18.00 price objective on shares of Chemours in a research note on Friday, January 16th. BMO Capital Markets decreased their price objective on shares of Chemours from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Monday, February 23rd. 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. Mizuho raised their price objective on shares of Chemours from $17.00 to $21.00 and gave the stock an "outperform" rating in a research note on Thursday, March 5th. Finally, Morgan Stanley raised their price objective on shares of Chemours from $15.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Chemours presently has a consensus rating of "Hold" and an average price target of $19.60.

Chemours Price Performance

NYSE:CC traded up $0.43 during trading hours on Thursday, reaching $21.86. 3,112,635 shares of the company's stock were exchanged, compared to its average volume of 3,535,309. The company has a market capitalization of $3.28 billion, a P/E ratio of -8.81 and a beta of 1.41. Chemours has a 12 month low of $9.13 and a 12 month high of $22.56. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 16.33. The business's 50-day simple moving average is $18.95 and its two-hundred day simple moving average is $15.38.

Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.04. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business posted $0.09 EPS. The company's revenue was down 2.2% on a year-over-year basis. Sell-side analysts expect that Chemours will post 2.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Chemours

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd bought a new position in shares of Chemours during the 3rd quarter valued at $2,124,000. Vision One Management Partners LP raised its holdings in shares of Chemours by 10.4% during the 2nd quarter. Vision One Management Partners LP now owns 1,720,189 shares of the specialty chemicals company's stock valued at $19,696,000 after purchasing an additional 161,691 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of Chemours by 103.5% during the 3rd quarter. WINTON GROUP Ltd now owns 114,100 shares of the specialty chemicals company's stock valued at $1,807,000 after purchasing an additional 58,039 shares in the last quarter. Wolf Hill Capital Management LP bought a new position in shares of Chemours during the 3rd quarter valued at $17,025,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of Chemours during the 3rd quarter valued at $1,925,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

About Chemours

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.