Element Solutions (NYSE:ESI) Upgraded by Jefferies Financial Group to Strong-Buy Rating

Element Solutions (NYSE:ESI) was upgraded by equities research analysts at Jefferies Financial Group to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

A number of other brokerages have also recently weighed in on ESI. Seaport Research Partners reaffirmed a “buy” rating and issued a $49.00 price target on shares of Element Solutions in a research report on Tuesday, May 5th. Weiss Ratings raised Element Solutions from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Truist Financial raised their price objective on Element Solutions from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Wolfe Research set a $47.00 target price on Element Solutions in a report on Wednesday, July 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Element Solutions in a research report on Tuesday, July 28th. Five research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $46.00.

Element Solutions Stock Up 0.1%

Element Solutions stock opened at $34.41 on Wednesday. The company has a market capitalization of $8.38 billion, a P/E ratio of 46.50, a P/E/G ratio of 1.18 and a beta of 1.26. The firm’s fifty day simple moving average is $38.69 and its 200-day simple moving average is $38.42. The company has a current ratio of 2.91, a quick ratio of 2.11 and a debt-to-equity ratio of 0.73. Element Solutions has a 1-year low of $22.86 and a 1-year high of $49.25.

Element Solutions (NYSE:ESI) last issued its quarterly earnings data on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The firm had revenue of $977.90 million during the quarter, compared to analysts’ expectations of $873.19 million. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. Element Solutions’s revenue for the quarter was up 56.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share. Sell-side analysts forecast that Element Solutions will post 1.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Element Solutions

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC boosted its stake in Element Solutions by 339.3% during the 1st quarter. Millennium Management LLC now owns 446,622 shares of the company’s stock valued at $10,098,000 after purchasing an additional 344,950 shares during the period. Goldman Sachs Group Inc. grew its holdings in Element Solutions by 60.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,894,061 shares of the company’s stock valued at $42,825,000 after buying an additional 712,466 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Element Solutions by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 872,451 shares of the company’s stock valued at $19,726,000 after acquiring an additional 37,204 shares during the period. Focus Partners Wealth bought a new stake in shares of Element Solutions in the first quarter valued at approximately $400,000. Finally, Amundi boosted its position in shares of Element Solutions by 258,233.3% in the second quarter. Amundi now owns 93,000 shares of the company’s stock valued at $2,237,000 after acquiring an additional 92,964 shares during the period. 92.32% of the stock is currently owned by institutional investors.

About Element Solutions

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.