Chemours (CC) PT Raised to $66.00

Chemours (NYSE:CC) had its target price hoisted by equities research analysts at Jefferies Group to $66.00 in a research note issued to investors on Monday. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Jefferies Group’s price objective indicates a potential upside of 33.87% from the company’s current price. Jefferies Group also issued estimates for Chemours’ Q4 2017 earnings at $0.82 EPS, FY2017 earnings at $3.55 EPS, FY2018 earnings at $5.10 EPS, FY2019 earnings at $5.85 EPS and FY2020 earnings at $6.65 EPS.

Several other equities analysts have also issued reports on the company. Zacks Investment Research raised Chemours from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, November 9th. Barclays boosted their target price on Chemours from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, November 6th. UBS boosted their target price on Chemours from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. BidaskClub raised Chemours from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, Argus reissued a “buy” rating and issued a $55.00 target price (up previously from $50.00) on shares of Chemours in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $54.56.

Chemours (NYSE:CC) opened at $49.30 on Monday. The company has a debt-to-equity ratio of 5.07, a current ratio of 2.19 and a quick ratio of 1.63. The stock has a market capitalization of $9,154.46, a PE ratio of 17.53, a PEG ratio of 0.86 and a beta of 3.38. Chemours has a 52-week low of $20.76 and a 52-week high of $58.08.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.11. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.59 billion. Chemours had a return on equity of 116.80% and a net margin of 4.86%. Chemours’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS. research analysts expect that Chemours will post 3.73 earnings per share for the current year.

Chemours declared that its Board of Directors has authorized a share buyback program on Friday, December 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

In other news, insider E Bryan Snell sold 11,878 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $53.25, for a total transaction of $632,503.50. Following the completion of the sale, the insider now owns 63,063 shares of the company’s stock, valued at approximately $3,358,104.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David C. Shelton sold 13,397 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $55.00, for a total transaction of $736,835.00. The disclosure for this sale can be found here. In the last three months, insiders sold 50,183 shares of company stock valued at $2,720,166. 1.14% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its position in shares of Chemours by 3.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,076 shares of the specialty chemicals company’s stock valued at $117,000 after purchasing an additional 100 shares during the last quarter. Smithfield Trust Co. increased its position in shares of Chemours by 521.4% during the 2nd quarter. Smithfield Trust Co. now owns 4,791 shares of the specialty chemicals company’s stock valued at $182,000 after purchasing an additional 4,020 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of Chemours during the 2nd quarter valued at about $202,000. Gamco Investors INC. ET AL purchased a new stake in shares of Chemours during the 3rd quarter valued at about $202,000. Finally, Bell Bank purchased a new stake in shares of Chemours during the 3rd quarter valued at about $202,000. 74.42% of the stock is owned by hedge funds and other institutional investors.

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Chemours Company Profile

The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.

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