Element Solutions (NYSE:ESI) Price Target Raised to $29.00

Element Solutions (NYSE:ESI) had its price target lifted by The Goldman Sachs Group from $26.00 to $29.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 7.81% from the stock’s current price.

A number of other analysts have also weighed in on ESI. BMO Capital Markets reiterated an “outperform” rating and set a $30.00 target price (up from $28.00) on shares of Element Solutions in a report on Wednesday, June 12th. UBS Group lifted their price objective on Element Solutions from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday. Wolfe Research began coverage on Element Solutions in a report on Friday, March 1st. They set a “peer perform” rating for the company. StockNews.com cut shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Finally, Mizuho upped their price objective on shares of Element Solutions from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Element Solutions Trading Down 0.5 %

Element Solutions stock traded down $0.13 during trading hours on Thursday, reaching $26.90. The company had a trading volume of 26,196 shares, compared to its average volume of 1,396,630. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.63 and a quick ratio of 2.69. Element Solutions has a 12-month low of $17.57 and a 12-month high of $27.86. The company has a 50-day moving average price of $24.53 and a 200 day moving average price of $23.79. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 49.81, a P/E/G ratio of 1.30 and a beta of 1.29.

Element Solutions (NYSE:ESI) last issued its earnings results on Monday, April 29th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $575.00 million for the quarter, compared to the consensus estimate of $588.17 million. Element Solutions had a net margin of 5.62% and a return on equity of 13.96%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share. Equities analysts forecast that Element Solutions will post 1.43 earnings per share for the current year.

Institutional Trading of Element Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of ESI. Treasurer of the State of North Carolina boosted its stake in Element Solutions by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 98,021 shares of the company’s stock worth $1,922,000 after acquiring an additional 500 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Element Solutions by 1.5% in the 4th quarter. Handelsbanken Fonder AB now owns 34,115 shares of the company’s stock worth $789,000 after purchasing an additional 500 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Element Solutions by 4.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 15,721 shares of the company’s stock worth $364,000 after buying an additional 598 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Element Solutions by 51.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,002 shares of the company’s stock valued at $46,000 after buying an additional 684 shares in the last quarter. Finally, AIA Group Ltd raised its stake in Element Solutions by 3.4% during the fourth quarter. AIA Group Ltd now owns 22,586 shares of the company’s stock valued at $523,000 after buying an additional 744 shares during the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

About Element Solutions

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.