Chemours (NYSE:CC) Stock Rating Lowered by Zacks Research

Chemours (NYSE:CC) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley set a $18.00 price target on Chemours in a report on Monday. UBS Group reaffirmed a “neutral” rating and issued a $18.00 price objective (down from $29.00) on shares of Chemours in a research note on Monday. JPMorgan Chase & Co. lifted their target price on Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. Mizuho set a $22.00 target price on Chemours in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada reduced their price target on shares of Chemours from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Five equities 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, the company currently has an average rating of “Hold” and an average price target of $21.00.

Chemours Stock Performance

Shares of NYSE:CC opened at $15.26 on Tuesday. Chemours has a 1 year low of $10.44 and a 1 year high of $28.67. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -7.99 and a beta of 1.43. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.66 and a quick ratio of 0.88. The company’s 50 day simple moving average is $18.76 and its 200 day simple moving average is $20.03.

Chemours (NYSE:CC) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.54) earnings per share. As a group, research analysts predict that Chemours will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling at Chemours

In other news, CFO Shane Hostetter acquired 3,350 shares of the stock in a transaction dated Thursday, August 6th. The stock was bought at an average price of $14.94 per share, with a total value of $50,049.00. Following the completion of the purchase, the chief financial officer directly owned 102,698 shares of the company’s stock, valued at $1,534,308.12. This represents a 3.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Chemours

A number of institutional investors have recently added to or reduced their stakes in CC. Atlas Capital Advisors Inc. acquired a new position in Chemours in the 4th quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Chemours during the fourth quarter worth $28,000. Covestor Ltd grew its stake in shares of Chemours by 204.7% in the fourth quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 1,748 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Chemours in the fourth quarter worth $31,000. Finally, Rothschild Investment LLC increased its holdings in Chemours by 87.0% in the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,255 shares during the period. 76.26% of the stock is owned by institutional investors.

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.