JPMorgan Chase & Co. Lowers Chemours (CC) to Neutral

Chemours (NYSE:CC) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Monday, May 6th, MarketBeat.com reports. They presently have a $34.00 price target on the specialty chemicals company’s stock, down from their previous price target of $40.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 53.02% from the company’s current price.

Several other research analysts have also commented on CC. ValuEngine lowered shares of Chemours from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. HSBC began coverage on shares of Chemours in a report on Tuesday, January 8th. They issued a “buy” rating and a $52.00 price objective for the company. Zacks Investment Research upgraded shares of Chemours from a “sell” rating to a “hold” rating in a report on Monday, March 18th. SunTrust Banks upped their price objective on shares of Chemours to $40.00 and gave the stock a “hold” rating in a report on Tuesday, February 19th. Finally, Susquehanna Bancshares restated a “neutral” rating and issued a $37.00 price objective on shares of Chemours in a report on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.00.

Shares of Chemours stock traded down $0.45 during trading on Monday, reaching $22.22. The company’s stock had a trading volume of 1,361,045 shares, compared to its average volume of 3,478,321. Chemours has a 52-week low of $22.29 and a 52-week high of $51.90. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 3.92, a price-to-earnings-growth ratio of 0.35 and a beta of 2.20. The company has a debt-to-equity ratio of 5.18, a quick ratio of 1.04 and a current ratio of 1.81.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.30). The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Chemours had a net margin of 12.60% and a return on equity of 87.75%. The company’s quarterly revenue was down 20.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. On average, equities research analysts forecast that Chemours will post 4.22 earnings per share for the current fiscal year.

In other news, Director Bradley J. Bell acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were bought at an average cost of $24.06 per share, with a total value of $120,300.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Susan M. Kelliher acquired 6,500 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average cost of $23.06 per share, for a total transaction of $149,890.00. The disclosure for this purchase can be found here. Insiders have sold a total of 91,924 shares of company stock worth $3,538,130 over the last three months. 2.34% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Chemours by 2.0% in the first quarter. FMR LLC now owns 24,912,740 shares of the specialty chemicals company’s stock worth $925,757,000 after buying an additional 479,467 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of Chemours by 0.3% in the third quarter. Vanguard Group Inc now owns 18,119,103 shares of the specialty chemicals company’s stock worth $714,617,000 after buying an additional 56,773 shares during the last quarter. Iridian Asset Management LLC CT boosted its holdings in shares of Chemours by 2.9% in the fourth quarter. Iridian Asset Management LLC CT now owns 9,696,092 shares of the specialty chemicals company’s stock worth $273,624,000 after buying an additional 275,677 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Chemours by 19.9% in the first quarter. LSV Asset Management now owns 3,695,006 shares of the specialty chemicals company’s stock worth $137,306,000 after buying an additional 613,100 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Chemours by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,146,146 shares of the specialty chemicals company’s stock worth $88,784,000 after buying an additional 860,666 shares during the last quarter. 80.12% of the stock is currently owned by institutional investors.

About Chemours

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.

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Analyst Recommendations for Chemours (NYSE:CC)

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