Elementis (LON:ELM) Hits New 52-Week High – What’s Next?

Elementis plc (LON:ELM)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as GBX 186.60 and last traded at GBX 186.60, with a volume of 6965355 shares traded. The stock had previously closed at GBX 181.20.

Wall Street Analyst Weigh In

ELM has been the subject of several recent research reports. Jefferies Financial Group restated a “buy” rating and issued a GBX 210 price target on shares of Elementis in a research report on Thursday, July 30th. Berenberg Bank lifted their price target on shares of Elementis from GBX 195 to GBX 220 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Elementis from GBX 200 to GBX 215 and gave the company a “buy” rating in a report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Elementis currently has an average rating of “Moderate Buy” and an average price target of GBX 208.75.

Elementis Price Performance

The firm has a market cap of £1.07 billion, a price-to-earnings ratio of -23.92, a P/E/G ratio of 3.05 and a beta of 0.92. The company has a current ratio of 2.27, a quick ratio of 1.16 and a debt-to-equity ratio of 39.91. The business’s 50-day simple moving average is GBX 159.48 and its two-hundred day simple moving average is GBX 157.74.

Elementis (LON:ELM) last posted its quarterly earnings data on Thursday, July 30th. The company reported GBX 8.60 EPS for the quarter. Elementis had a net margin of 12.16% and a return on equity of 11.29%. As a group, research analysts expect that Elementis plc will post 9.4993582 EPS for the current fiscal year.

Elementis announced that its Board of Directors has approved a share buyback plan on Wednesday, June 3rd that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management 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.