Chemours (NYSE:CC) Given New $14.00 Price Target at JPMorgan Chase & Co.

Chemours (NYSE:CC) had its target price cut by stock analysts at JPMorgan Chase & Co. from $15.00 to $14.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 4.36% from the company’s previous close.

Several other equities research analysts have also weighed in on CC. Morgan Stanley set a $18.00 price objective on shares of Chemours in a research note on Monday, August 10th. UBS Group decreased their target price on Chemours from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, November 4th. Zacks Research lowered Chemours from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 4th. Truist Financial dropped their price target on Chemours from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Finally, Mizuho downgraded Chemours from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $15.00 in a report on Wednesday, October 14th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.36.

Chemours Stock Up 5.2%

NYSE:CC traded up $0.67 during mid-day trading on Monday, reaching $13.41. The stock had a trading volume of 1,825,922 shares, compared to its average volume of 2,819,766. The company has a debt-to-equity ratio of 24.25, a current ratio of 1.81 and a quick ratio of 0.98. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -13.13 and a beta of 1.47. Chemours has a 1-year low of $10.44 and a 1-year high of $28.67. The stock’s 50 day simple moving average is $13.96 and its two-hundred day simple moving average is $18.22.

Chemours (NYSE:CC) last issued its earnings results on Monday, November 2nd. The specialty chemicals company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Chemours had a positive return on equity of 76.52% and a negative net margin of 2.64%. Chemours’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. Equities analysts anticipate that Chemours will post 0.82 EPS for the current year.

Insider Transactions at Chemours

In other news, CEO Denise Dignam acquired 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, with a total value of $50,501.10. Following the acquisition, the chief executive officer directly owned 339,916 shares in the company, valued at approximately $5,081,744.20. The trade was a 1.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Calderon Gerardo Familiar acquired 1,935 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $15.53 per share, for a total transaction of $30,050.55. Following the completion of the transaction, the insider owned 58,547 shares in the company, valued at $909,234.91. The trade was a 3.42% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chemours

Several large investors have recently made changes to their positions in CC. Northwestern Mutual Wealth Management Co. bought a new position in Chemours during the 2nd quarter valued at $34,000. Allworth Financial LP acquired a new position in shares of Chemours during the 2nd quarter valued at $51,000. State of Wyoming bought a new stake in shares of Chemours in the 2nd quarter worth $67,000. Nykredit A S bought a new stake in shares of Chemours in the 2nd quarter worth $99,000. Finally, Sterling Capital Management LLC raised its stake in shares of Chemours by 839.3% in the 3rd quarter. Sterling Capital Management LLC now owns 5,072 shares of the specialty chemicals company’s stock worth $69,000 after buying an additional 4,532 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Key Stories Impacting Chemours

Here are the key news stories impacting Chemours this week:

• Positive Sentiment: Chemours’ Faizeon cooling launch targets AI data centers, a potentially attractive growth market. The opportunity may take time to translate into meaningful revenue. Read More.
• Neutral Sentiment: An analyst roundup reports that Wall Street’s rating on CC is “Hold,” suggesting a cautious, balanced view. Read More.
• Negative Sentiment: Chemours’ third-quarter earnings missed analyst expectations as weak Thermal & Specialized Solutions (TSS) volumes outweighed stronger titanium dioxide pricing and growth in Advanced Performance Materials (APM). Read More.
• Negative Sentiment: Several law firms publicized a securities class action and the December 7 lead-plaintiff deadline. The lawsuit alleges Chemours misrepresented demand trends, including the effect of excess inventory in the Opteon aftermarket channel. These are allegations, not proven findings, but the litigation and related claims could weigh on investor sentiment. Read More.

Chemours Company Profile

The Chemours Company is a global chemicals manufacturer spun off from DuPont in 2015 and headquartered in Wilmington, Delaware. It develops and produces materials used in industries ranging from construction and transportation to electronics and energy.

Chemours’ Titanium Technologies business makes titanium dioxide (TiO₂) pigment, sold under the Ti-Pure brand, which is used to add whiteness, brightness and opacity to products such as paints, coatings, plastics and paper.

Its Thermal & Specialized Solutions business supplies refrigerants, foam-blowing agents and other specialty fluids, including products marketed under the Opteon and Freon brands.