Elementis (LON:ELM) Reaches New 12-Month High – Still a Buy?

Elementis plc (LON:ELM)’s share price reached a new 52-week high on Thursday . The company traded as high as GBX 180.40 and last traded at GBX 177.80, with a volume of 1027923 shares changing hands. The stock had previously closed at GBX 172.56.

Wall Street Analysts Forecast Growth

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

Elementis Trading Up 5.4%

The stock has a market capitalization of £1.04 billion, a price-to-earnings ratio of -23.33, a price-to-earnings-growth ratio of 3.05 and a beta of 0.92. The company has a current ratio of 1.90, a quick ratio of 1.16 and a debt-to-equity ratio of 39.85. The company has a fifty day moving average of GBX 156.77 and a two-hundred day moving average of GBX 157.45.

Elementis declared that its Board of Directors has approved a stock repurchase plan on Wednesday, June 3rd that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

About Elementis

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.