Elementis (LON:ELM) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Elementis plc (LON:ELM)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 157.44 and traded as high as GBX 170. Elementis shares last traded at GBX 167.78, with a volume of 494,717 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ELM shares. Jefferies Financial Group restated a “buy” rating and set a GBX 210 price objective on shares of Elementis in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 200 target price on shares of Elementis in a research report on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Elementis has a consensus rating of “Moderate Buy” and an average price target of GBX 200.

Elementis Stock Down 0.0%

The company has a quick ratio of 1.16, a current ratio of 1.90 and a debt-to-equity ratio of 39.85. The company has a market cap of £957.68 million, a price-to-earnings ratio of -21.51, a P/E/G ratio of 3.05 and a beta of 0.92. The stock has a fifty day moving average price of GBX 154.78 and a two-hundred day moving average price of GBX 157.44.

Elementis declared that its board has approved a stock buyback plan on Wednesday, June 3rd that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

About Elementis

Elementis is a global specialty chemicals company listed on the London Stock Exchange. The Group employs c.1,000 across 20 global locations. As recognised innovation leaders with deep expertise in rheology (the science of flow), and formulation solutions, we develop distinctive solutions and products to improve performance, achieve smoother production, and enhance sustainability credentials for customers across a range of industries. The Group also owns and operates the largest high-quality hectorite mine in the world.