BMO Capital Markets Lowers Element Solutions (NYSE:ESI) Price Target to $30.00

Element Solutions (NYSE:ESI) had its price objective lowered by BMO Capital Markets from $34.00 to $30.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 48.22% from the company’s current price.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. KeyCorp lowered their target price on shares of Element Solutions from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. UBS Group reduced their price target on Element Solutions from $31.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Truist Financial upgraded Element Solutions from a “hold” rating to a “buy” rating and decreased their price objective for the company from $28.00 to $24.00 in a report on Monday, April 14th. Finally, Barclays dropped their target price on Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.38.

Element Solutions Stock Performance

Shares of ESI stock opened at $20.24 on Friday. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.30 and a beta of 1.28. Element Solutions has a 52-week low of $16.77 and a 52-week high of $29.78. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $22.84 and its 200 day moving average is $25.28.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $593.70 million for the quarter, compared to the consensus estimate of $576.73 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. During the same period last year, the business posted $0.34 EPS. On average, sell-side analysts anticipate that Element Solutions will post 1.45 EPS for the current fiscal year.

Insider Activity at Element Solutions

In related news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the completion of the transaction, the director now directly owns 109,100 shares in the company, valued at $2,847,510. The trade was a 94.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Element Solutions

A number of institutional investors have recently modified their holdings of the stock. TD Private Client Wealth LLC acquired a new stake in Element Solutions during the fourth quarter worth about $27,000. Park Square Financial Group LLC purchased a new stake in Element Solutions in the 4th quarter worth approximately $28,000. First Horizon Advisors Inc. grew its stake in shares of Element Solutions by 610.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock worth $29,000 after purchasing an additional 971 shares during the period. Trust Co. of Vermont purchased a new position in shares of Element Solutions during the 4th quarter valued at approximately $43,000. Finally, Parkside Financial Bank & Trust acquired a new position in shares of Element Solutions in the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Element Solutions Company Profile

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.