Chemours (NYSE:CC) Sets New 1-Year High – Here’s Why

The Chemours Company (NYSE:CC)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $18.50 and last traded at $18.0260, with a volume of 59003 shares traded. The stock had previously closed at $18.32.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a research report on Wednesday, January 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $18.00 target price on shares of Chemours in a report on Friday, January 16th. Zacks Research downgraded shares of Chemours from a “hold” rating to a “strong sell” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. cut their price objective on shares of Chemours from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. Finally, Mizuho reduced their price objective on Chemours from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, October 16th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.67.

Chemours Price Performance

The company has a current ratio of 1.71, a quick ratio of 0.88 and a debt-to-equity ratio of 13.66. The stock has a 50 day simple moving average of $13.79 and a 200-day simple moving average of $13.97. The firm has a market cap of $2.76 billion, a PE ratio of -8.29 and a beta of 1.63.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.The business’s revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $0.40 EPS. Equities analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chemours

Several institutional investors and hedge funds have recently modified their holdings of the stock. Entropy Technologies LP lifted its position in Chemours by 478.3% during the second quarter. Entropy Technologies LP now owns 62,075 shares of the specialty chemicals company’s stock valued at $711,000 after purchasing an additional 51,341 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Chemours during the 3rd quarter valued at about $2,124,000. Vision One Management Partners LP raised its position 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 buying an additional 161,691 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Chemours by 41.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,484,416 shares of the specialty chemicals company’s stock valued at $39,901,000 after acquiring an additional 1,020,933 shares during the last quarter. Finally, Bryce Point Capital LLC purchased a new position in Chemours in the second quarter worth about $955,000. 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.