In a report released today, John McNulty from BMO Capital reiterated a Buy rating on Chemours Company (CC – Research Report), with a price target of $59.00. The company’s shares closed last Tuesday at $31.99.
According to TipRanks.com, McNulty is a 3-star analyst with an average return of 1.2% and a 45.0% success rate. McNulty covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, Sherwin-Williams Company, and Axalta Coating Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Chemours Company with a $45.73 average price target, a 44.8% upside from current levels. In a report issued on June 6, Alembic Global also maintained a Buy rating on the stock with a $51.00 price target.
Based on Chemours Company’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.76 billion and net profit of $234 million. In comparison, last year the company earned revenue of $1.44 billion and had a net profit of $96 million.
Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CC in relation to earlier this year.
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The Chemours Co. is a holding company, which engages in the provision of performance chemicals. It operates through the following segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment produces titanium dioxide. The Fluoroproducts segment supplies refrigerants and industrial fluoropolymer resins. The Chemical Solutions segment provides chemicals used in gold production, oil refining, agriculture, and industrial polymers. The firm offers refrigerants, industrial fluoropolymer resins, sodium cyanide, performance chemicals and intermediates, and titanium dioxide pigments to the plastics and coatings, refrigeration and air conditioning, general industrial, electronics, mining, and oil refining markets. The company was founded on February 18, 2014 and is headquartered in Wilmington, Delaware.
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