Chemours (NYSE:CC) Cut to “Sell” at ValuEngine

Share on StockTwits

Chemours (NYSE:CC) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday, November 1st, ValuEngine reports.

A number of other brokerages have also recently issued reports on CC. Argus cut Chemours from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. BMO Capital Markets reduced their price target on Chemours from $31.00 to $23.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. UBS Group reduced their price target on Chemours from $19.00 to $14.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered Chemours from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $32.00 to $16.00 in a research report on Friday, August 9th. Finally, Susquehanna Bancshares raised Chemours from a “neutral” rating to a “positive” rating and reduced their price target for the stock from $37.00 to $18.00 in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $27.14.

Chemours stock traded up $0.04 during midday trading on Friday, reaching $19.69. 1,702,921 shares of the company were exchanged, compared to its average volume of 2,583,418. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 3.47, a P/E/G ratio of 0.51 and a beta of 2.57. The firm’s 50-day simple moving average is $15.60 and its 200-day simple moving average is $19.81. Chemours has a 1 year low of $11.71 and a 1 year high of $41.60. The company has a debt-to-equity ratio of 5.05, a quick ratio of 1.09 and a current ratio of 1.72.

Chemours (NYSE:CC) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Chemours had a return on equity of 58.38% and a net margin of 7.24%. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.49 EPS. On average, analysts forecast that Chemours will post 2.44 EPS for the current fiscal year.

In other news, COO Mark Newman acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average price of $16.42 per share, for a total transaction of $328,400.00. Following the completion of the acquisition, the chief operating officer now directly owns 114,261 shares in the company, valued at approximately $1,876,165.62. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.34% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Investors Research Corp lifted its holdings in shares of Chemours by 148.1% during the second quarter. Investors Research Corp now owns 1,206 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 720 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Chemours during the second quarter valued at $29,000. Cerebellum GP LLC lifted its holdings in shares of Chemours by 107.8% during the third quarter. Cerebellum GP LLC now owns 1,490 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 773 shares during the last quarter. Parallel Advisors LLC lifted its stake in Chemours by 479.4% in the 3rd quarter. Parallel Advisors LLC now owns 2,312 shares of the specialty chemicals company’s stock worth $35,000 after acquiring an additional 1,913 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Chemours by 423.4% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,727 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 2,206 shares in the last quarter. 79.88% of the stock is owned by institutional investors and hedge funds.

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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

Read More: What is a Special Dividend?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Chemours (NYSE:CC)

Receive News & Ratings for Chemours Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours and related companies with MarketBeat.com's FREE daily email newsletter.