JPMorgan Chase & Co. Cuts DuPont de Nemours (NYSE:DD) Price Target to $48.00

DuPont de Nemours (NYSE:DD) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $104.00 to $48.00 in a report released on Tuesday,MarketScreener reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 19.26% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings lowered shares of DuPont de Nemours from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, November 7th. BMO Capital Markets lowered their price objective on DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Wells Fargo & Company dropped their price objective on shares of DuPont de Nemours from $100.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Zacks Research downgraded DuPont de Nemours from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Finally, Mizuho upped their target price on shares of DuPont de Nemours from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.25.

DuPont de Nemours Price Performance

Shares of DD traded down $0.35 during midday trading on Tuesday, hitting $40.25. 206,426 shares of the company traded hands, compared to its average volume of 7,202,196. The stock has a market cap of $16.86 billion, a price-to-earnings ratio of -85.48, a PEG ratio of 2.49 and a beta of 1.11. DuPont de Nemours has a 52 week low of $22.50 and a 52 week high of $41.23. The firm has a 50 day moving average of $71.45 and a 200-day moving average of $71.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 1.41.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings data on Monday, July 11th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter. The company had revenue of $3.02 billion during the quarter. DuPont de Nemours had a negative net margin of 1.54% and a positive return on equity of 7.85%. On average, analysts forecast that DuPont de Nemours will post 4.38 EPS for the current fiscal year.

DuPont de Nemours announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 6th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the basic materials company to buy up to 12.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, SVP Steven P. Larrabee sold 43,208 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $77.17, for a total transaction of $3,334,361.36. Following the completion of the transaction, the senior vice president owned 38,585 shares in the company, valued at approximately $2,977,604.45. This represents a 52.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 74,208 shares of company stock worth $5,714,861. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DuPont de Nemours

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Obermeyer Wealth Partners lifted its position in shares of DuPont de Nemours by 73.6% during the 2nd quarter. Obermeyer Wealth Partners now owns 25,159 shares of the basic materials company’s stock worth $1,726,000 after buying an additional 10,663 shares during the period. Prospera Financial Services Inc raised its stake in shares of DuPont de Nemours by 19.1% in the second quarter. Prospera Financial Services Inc now owns 94,434 shares of the basic materials company’s stock valued at $6,477,000 after acquiring an additional 15,144 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of DuPont de Nemours by 15.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 756,907 shares of the basic materials company’s stock worth $56,526,000 after acquiring an additional 99,667 shares in the last quarter. Vanguard Group Inc. grew its position in DuPont de Nemours by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 46,894,623 shares of the basic materials company’s stock worth $3,502,090,000 after acquiring an additional 298,408 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in DuPont de Nemours during the 1st quarter valued at $531,037,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

About DuPont de Nemours

DuPont de Nemours, Inc provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments. The Electronics & Industrial segment supplies materials and solutions for the fabrication of semiconductors and integrated circuits.