Bank of America Increases Element Solutions (NYSE:ESI) Price Target to $33.00

Element Solutions (NYSE:ESI) had its price objective raised by research analysts at Bank of America from $31.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 15.11% from the stock’s previous close.

A number of other research analysts have also weighed in on ESI. KeyCorp increased their price objective on Element Solutions from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday. CJS Securities raised shares of Element Solutions to a “strong-buy” rating in a research report on Thursday, December 11th. Mizuho dropped their price objective on shares of Element Solutions from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Finally, BMO Capital Markets cut shares of Element Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Element Solutions currently has an average rating of “Moderate Buy” and an average price target of $31.50.

Element Solutions Trading Down 1.2%

Shares of Element Solutions stock opened at $28.67 on Monday. The firm’s 50 day simple moving average is $26.45 and its two-hundred day simple moving average is $25.82. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.20 and a beta of 1.28. Element Solutions has a 12-month low of $16.77 and a 12-month high of $29.88. The company has a current ratio of 4.05, a quick ratio of 3.28 and a debt-to-equity ratio of 0.61.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Element Solutions had a net margin of 9.58% and a return on equity of 14.01%. The firm had revenue of $656.10 million for the quarter, compared to analyst estimates of $645.13 million. During the same period in the previous year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts predict that Element Solutions will post 1.45 EPS for the current year.

Insiders Place Their Bets

In related news, insider Matthew Liebowitz sold 37,000 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $26.60, for a total transaction of $984,200.00. Following the sale, the insider owned 117,393 shares in the company, valued at approximately $3,122,653.80. This trade represents a 23.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ian G. H. Ashken sold 292,000 shares of Element Solutions stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $27.00, for a total transaction of $7,884,000.00. Following the completion of the transaction, the director directly owned 306,880 shares of the company’s stock, valued at $8,285,760. The trade was a 48.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Element Solutions

Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Element Solutions by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,256,926 shares of the company’s stock worth $207,822,000 after purchasing an additional 139,751 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Element Solutions by 68.6% in the third quarter. Invesco Ltd. now owns 4,922,726 shares of the company’s stock worth $123,905,000 after buying an additional 2,003,724 shares in the last quarter. Locust Wood Capital Advisers LLC lifted its stake in shares of Element Solutions by 9.6% in the third quarter. Locust Wood Capital Advisers LLC now owns 4,722,464 shares of the company’s stock worth $118,864,000 after buying an additional 413,834 shares in the last quarter. Ilex Capital Partners UK LLP boosted its position in Element Solutions by 61.7% during the second quarter. Ilex Capital Partners UK LLP now owns 4,656,299 shares of the company’s stock worth $105,465,000 after acquiring an additional 1,777,265 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Element Solutions by 3.0% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 4,426,445 shares of the company’s stock valued at $111,414,000 after acquiring an additional 129,590 shares in the last quarter. 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.