Elmet Group Co. (NASDAQ:ELMT) Receives Consensus Rating of “Moderate Buy” from Analysts

Elmet Group Co. (NASDAQ:ELMT) has received an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $20.50.

A number of research firms have recently commented on ELMT. Canaccord Genuity Group began coverage on Elmet Group in a report on Monday, May 18th. They issued a “buy” rating and a $20.00 price objective on the stock. Zacks Research upgraded Elmet Group to a “hold” rating in a research note on Tuesday, May 19th. Needham & Company LLC started coverage on Elmet Group in a report on Monday, May 18th. They issued a “buy” rating and a $21.00 price target for the company. Cantor Fitzgerald assumed coverage on shares of Elmet Group in a research note on Monday, May 18th. They issued an “overweight” rating and a $20.00 price target on the stock. Finally, Roth Capital initiated coverage on shares of Elmet Group in a report on Monday, May 18th. They set a “buy” rating and a $21.00 price objective on the stock.

Elmet Group Stock Down 3.5%

NASDAQ ELMT opened at $14.46 on Friday. Elmet Group has a 52 week low of $13.38 and a 52 week high of $22.51. The business’s 50 day moving average price is $17.18. The firm has a market cap of $433.51 million and a PE ratio of 62.87.

Elmet Group (NASDAQ:ELMT) last announced its quarterly earnings data on Friday, May 29th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.41. The firm had revenue of $56.01 million during the quarter, compared to analyst estimates of $52.77 million.

Insiders Place Their Bets

In related news, Director Kimberly Monzeglio Anania purchased 7,000 shares of Elmet Group stock in a transaction that occurred on Wednesday, April 22nd. The stock was purchased at an average cost of $14.00 per share, with a total value of $98,000.00. Following the completion of the transaction, the director directly owned 7,000 shares in the company, valued at approximately $98,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathie Merrill Leonard acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The stock was bought at an average price of $14.00 per share, with a total value of $70,000.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $70,000. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Elmet Group Company Profile

Elmet provides precision-engineered components and advanced high-energy systems for growth markets. Our customers in these markets require advanced technology involving critical and strategic materials, such as tungsten, molybdenum and niobium (such materials, the “Critical Materials”) and high-level radio frequency (“RF”) engineering, including plasma generation, radar, and other high-energy systems (together, “High-Power Microwave”). Our products and solutions are integral to the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries.