Element Solutions (NYSE:ESI) Raised to Buy at StockNews.com

Element Solutions (NYSE:ESI) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Other equities analysts have also issued research reports about the stock. Truist Financial initiated coverage on shares of Element Solutions in a report on Tuesday, January 28th. They set a “hold” rating and a $28.00 price objective on the stock. Bank of America reiterated a “neutral” rating and issued a $28.00 price target (down previously from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. Barclays decreased their price objective on Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, BMO Capital Markets increased their target price on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.14.

Element Solutions Trading Down 0.9 %

Shares of ESI stock traded down $0.23 during trading hours on Monday, hitting $26.27. 1,527,668 shares of the company’s stock traded hands, compared to its average volume of 1,422,313. The stock has a market cap of $6.37 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 2.30 and a beta of 1.30. The stock’s 50 day simple moving average is $25.75 and its 200 day simple moving average is $26.37. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. Element Solutions has a 12 month low of $23.09 and a 12 month high of $29.78.

Element Solutions (NYSE:ESI) last announced its earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $598.24 million. On average, sell-side analysts anticipate that Element Solutions will post 1.45 EPS for the current year.

Hedge Funds Weigh In On Element Solutions

Hedge funds have recently modified their holdings of the company. Ilex Capital Partners UK LLP increased its stake in shares of Element Solutions by 162.7% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 2,470,003 shares of the company’s stock worth $67,085,000 after purchasing an additional 1,529,607 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in 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. FIL Ltd purchased a new stake in Element Solutions in the fourth quarter worth $29,818,000. London Co. of Virginia bought a new stake in shares of Element Solutions in the fourth quarter valued at $29,800,000. Finally, Boston Partners purchased a new position in shares of Element Solutions during the 4th quarter valued at $24,169,000. Institutional investors own 92.32% of the company’s stock.

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.