Truist Financial Initiates Coverage on Element Solutions (NYSE:ESI)

Research analysts at Truist Financial assumed coverage on shares of Element Solutions (NYSE:ESI) in a research note issued on Tuesday, Marketbeat reports. The brokerage set a “hold” rating and a $28.00 price target on the stock. Truist Financial’s price objective would indicate a potential upside of 10.61% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Barclays reduced their price target on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday. BMO Capital Markets boosted their price target on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. StockNews.com cut shares of Element Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Bank of America reaffirmed a “neutral” rating and set a $28.00 price objective (down from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th. Finally, Wolfe Research raised shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.14.

Element Solutions Trading Down 0.4 %

Shares of ESI opened at $25.32 on Tuesday. The company’s fifty day moving average is $26.51 and its 200 day moving average is $26.43. Element Solutions has a fifty-two week low of $21.42 and a fifty-two week high of $29.78. The stock has a market capitalization of $6.13 billion, a PE ratio of 22.81, a P/E/G ratio of 2.12 and a beta of 1.30. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.77 and a current ratio of 3.52.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. The company had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $626.52 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. Element Solutions’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts expect that Element Solutions will post 1.45 earnings per share for the current fiscal year.

Institutional Trading of Element Solutions

A number of large investors have recently made changes to their positions in ESI. Ilex Capital Partners UK LLP boosted its stake in shares of Element Solutions by 162.7% during the third quarter. Ilex Capital Partners UK LLP now owns 2,470,003 shares of the company’s stock valued at $67,085,000 after purchasing an additional 1,529,607 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Element Solutions by 549.2% during the third quarter. JPMorgan Chase & Co. now owns 1,619,419 shares of the company’s stock valued at $43,983,000 after purchasing an additional 1,369,981 shares during the period. Jennison Associates LLC purchased a new stake in shares of Element Solutions during the third quarter valued at $21,889,000. Appian Way Asset Management LP purchased a new stake in shares of Element Solutions during the third quarter valued at $14,553,000. Finally, Millennium Management LLC boosted its stake in shares of Element Solutions by 43.5% during the second quarter. Millennium Management LLC now owns 1,134,112 shares of the company’s stock valued at $30,757,000 after purchasing an additional 344,017 shares during the period. 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.