In a report released today, Hassan Ahmed from Alembic Global maintained a Buy rating on Chemours Company (CC – Research Report), with a price target of $35.00. The company’s shares closed last Monday at $31.01, close to its 52-week high of $32.21.
According to TipRanks.com, Ahmed is a 4-star analyst with an average return of 11.7% and a 52.0% success rate. Ahmed covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, Westlake Chemical, and Venator Materials.
Chemours Company has an analyst consensus of Moderate Buy, with a price target consensus of $32.57.
Based on Chemours Company’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.34 billion and net profit of $19 million. In comparison, last year the company earned revenue of $1.35 billion and had a GAAP net loss of $317 million.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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.