Element Solutions (NYSE:ESI) Now Covered by Bank of America

Stock analysts at Bank of America initiated coverage on shares of Element Solutions (NYSE:ESI) in a report released on Tuesday. The firm set a “buy” rating and a $42.00 price target on the stock. Bank of America‘s target price points to a potential upside of 22.71% from the company’s previous close.

A number of other research firms have also weighed in on ESI. William Blair set a $48.00 price objective on shares of Element Solutions in a research note on Friday. Wolfe Research set a $47.00 target price on Element Solutions in a research report on Wednesday, July 29th. Seaport Research Partners reaffirmed a “buy” rating and issued a $49.00 price target on shares of Element Solutions in a report on Tuesday, May 5th. Weiss Ratings upgraded Element Solutions from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, Mizuho reiterated a “neutral” rating and issued a $45.00 price target (down from $54.00) on shares of Element Solutions in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Element Solutions presently has a consensus rating of “Buy” and an average target price of $45.00.

Element Solutions Stock Performance

NYSE ESI traded down $1.31 during trading on Tuesday, hitting $34.23. 200,587 shares of the company’s stock traded hands, compared to its average volume of 3,666,769. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.11 and a current ratio of 2.91. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 1.20 and a beta of 1.26. Element Solutions has a 12-month low of $22.86 and a 12-month high of $49.25. The business has a 50 day moving average of $39.16 and a 200-day moving average of $38.39.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The company had revenue of $977.90 million for the quarter, compared to analyst estimates of $873.19 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was up 56.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Element Solutions will post 1.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. raised its stake in Element Solutions by 151.0% in the first quarter. Assetmark Inc. now owns 778 shares of the company’s stock valued at $27,000 after purchasing an additional 468 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Element Solutions in the 4th quarter worth approximately $28,000. NewEdge Advisors LLC grew its stake in Element Solutions by 57.4% in the 1st quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock worth $32,000 after buying an additional 346 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Element Solutions in the 3rd quarter worth $47,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Element Solutions in the 3rd quarter worth $49,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.

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.