Morgan Stanley Issues Pessimistic Forecast for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC - Get Free Report) had its target price cut by analysts at Morgan Stanley from $30.00 to $25.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the specialty chemicals company's stock. Morgan Stanley's target price indicates a potential upside of 25.79% from the company's previous close.

CC has been the subject of a number of other research reports. UBS Group decreased their target price on shares of Chemours from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada reduced their price objective on shares of Chemours from $35.00 to $28.00 and set an "outperform" rating for the company in a research report on Friday, October 11th. Barclays raised their price objective on shares of Chemours from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday. BMO Capital Markets raised their price objective on shares of Chemours from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Chemours from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Chemours presently has an average rating of "Hold" and a consensus target price of $25.25.

Chemours Trading Down 3.4 %

NYSE:CC traded down $0.70 on Tuesday, reaching $19.88. 2,168,320 shares of the stock traded hands, compared to its average volume of 1,575,375. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 40.18 and a beta of 1.75. The company's 50 day moving average is $18.97 and its 200-day moving average is $22.19. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45. Chemours has a 1-year low of $15.10 and a 1-year high of $32.70.

Chemours (NYSE:CC - Get Free Report) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.08. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a net margin of 2.16% and a return on equity of 33.21%. The company's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. Equities research analysts anticipate that Chemours will post 1.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Chemours

A number of large investors have recently modified their holdings of CC. Marshall Wace LLP lifted its stake in Chemours by 23.8% during the 2nd quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company's stock valued at $158,213,000 after acquiring an additional 1,347,710 shares in the last quarter. Khrom Capital Management LLC lifted its stake in Chemours by 54.6% during the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company's stock valued at $78,016,000 after acquiring an additional 1,220,967 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Chemours by 6.8% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,824,301 shares of the specialty chemicals company's stock valued at $63,744,000 after acquiring an additional 178,625 shares in the last quarter. American Century Companies Inc. lifted its stake in Chemours by 26.7% during the 2nd quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company's stock valued at $40,896,000 after acquiring an additional 382,100 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Chemours by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,453 shares of the specialty chemicals company's stock valued at $36,258,000 after acquiring an additional 22,209 shares in the last quarter. 76.26% 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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.