Elementis (LON:ELM) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Elementis plc (LON:ELM) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

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

Elementis Stock Performance

The company has a debt-to-equity ratio of 39.85, a current ratio of 1.90 and a quick ratio of 1.16. The stock has a fifty day simple moving average of GBX 155.29 and a two-hundred day simple moving average of GBX 157.52. The firm has a market capitalization of £965.58 million, a P/E ratio of -21.69, a P/E/G ratio of 3.05 and a beta of 0.92.

Elementis announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 3rd that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Elementis Company Profile

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.