Element Solutions (NYSE:ESI) Given New $33.00 Price Target at Truist Financial

Element Solutions (NYSE:ESI) had its price target boosted by investment analysts at Truist Financial from $30.00 to $33.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 15.89% from the stock’s current price.

A number of other analysts have also weighed in on ESI. BMO Capital Markets lowered Element Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of Element Solutions in a research note on Wednesday, October 8th. Bank of America increased their price target on shares of Element Solutions from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. KeyCorp raised their price objective on Element Solutions from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Mizuho dropped their target price on shares of Element Solutions from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Element Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.25.

Element Solutions Price Performance

NYSE:ESI opened at $28.48 on Wednesday. The company has a quick ratio of 3.28, a current ratio of 4.05 and a debt-to-equity ratio of 0.61. Element Solutions has a 52 week low of $16.77 and a 52 week high of $29.75. The business’s 50-day simple moving average is $26.31 and its two-hundred day simple moving average is $25.73. The stock has a market cap of $6.89 billion, a PE ratio of 28.76, a P/E/G ratio of 1.25 and a beta of 1.28.

Element Solutions (NYSE:ESI) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Element Solutions had a net margin of 9.58% and a return on equity of 14.01%. The business had revenue of $656.10 million during the quarter, compared to the consensus estimate of $645.13 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The business’s revenue was up 1.7% on a year-over-year basis. As a group, analysts forecast that Element Solutions will post 1.45 EPS for the current fiscal year.

Insider Transactions at Element Solutions

In other Element Solutions news, insider Matthew Liebowitz sold 37,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $26.60, for a total value of $984,200.00. Following the transaction, the insider directly owned 117,393 shares of the company’s stock, valued at $3,122,653.80. This trade represents a 23.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ian G. H. Ashken sold 292,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $27.00, for a total value of $7,884,000.00. Following the completion of the sale, the director owned 306,880 shares of the company’s stock, valued at $8,285,760. This trade represents a 48.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Element Solutions

Several hedge funds have recently bought and sold shares of the company. Elevation Point Wealth Partners LLC acquired a new stake in Element Solutions in the 2nd quarter valued at about $26,000. Farther Finance Advisors LLC boosted its position in shares of Element Solutions by 154.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,116 shares of the company’s stock valued at $28,000 after purchasing an additional 678 shares during the period. First Horizon Advisors Inc. grew its position in shares of Element Solutions by 710.1% during the second quarter. First Horizon Advisors Inc. now owns 1,288 shares of the company’s stock worth $29,000 after acquiring an additional 1,129 shares during the last quarter. Community Bank N.A. purchased a new position in Element Solutions during the 3rd quarter worth $33,000. Finally, American National Bank & Trust acquired a new position in Element Solutions in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Company Profile

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.