Solstice Advanced Mat (NASDAQ:SOLS) Stock Has Average Price Target of $77.30

Shares of Solstice Advanced Mat (NASDAQ:SOLS) have received a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $77.30.

A number of equities analysts have issued reports on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $82.00 target price on shares of Solstice Advanced Mat in a report on Wednesday, September 30th. Seaport Research Partners started coverage on Solstice Advanced Mat in a report on Wednesday, October 7th. They set a “buy” rating and a $80.00 target price on the stock. Wall Street Zen cut shares of Solstice Advanced Mat from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Barclays started coverage on shares of Solstice Advanced Mat in a research report on Monday, October 12th. They set an “overweight” rating and a $73.00 price objective for the company. Finally, Morgan Stanley downgraded Solstice Advanced Mat to a “buy” rating in a research note on Monday, July 13th.

Solstice Advanced Mat Price Performance

Shares of SOLS stock opened at $63.65 on Tuesday. The business has a fifty day simple moving average of $59.95 and a 200 day simple moving average of $69.93. The company has a market cap of $10.11 billion and a P/E ratio of 31.20. The company has a quick ratio of 1.08, a current ratio of 1.38 and a debt-to-equity ratio of 1.30. Solstice Advanced Mat has a twelve month low of $40.43 and a twelve month high of $90.80.

Solstice Advanced Mat (NASDAQ:SOLS) last released its earnings results on Wednesday, November 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. The firm had revenue of $1.05 billion for the quarter. Solstice Advanced Mat had a return on equity of 27.15% and a net margin of 7.79%. On average, sell-side analysts forecast that Solstice Advanced Mat will post 2.93 EPS for the current fiscal year.

Solstice Advanced Mat Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be issued a dividend of $0.0750 per share. The ex-dividend date is Wednesday, November 25th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Solstice Advanced Mat’s payout ratio is currently 14.71%.

Hedge Funds Weigh In On Solstice Advanced Mat

A number of institutional investors have recently modified their holdings of SOLS. Greenleaf Trust raised its stake in shares of Solstice Advanced Mat by 4.0% in the third quarter. Greenleaf Trust now owns 4,679 shares of the company’s stock worth $264,000 after purchasing an additional 179 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Solstice Advanced Mat by 0.5% during the second quarter. Arizona State Retirement System now owns 43,816 shares of the company’s stock valued at $3,882,000 after buying an additional 217 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Solstice Advanced Mat by 5.7% during the third quarter. Quadrant Capital Group LLC now owns 4,869 shares of the company’s stock valued at $297,000 after buying an additional 263 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Solstice Advanced Mat during the second quarter valued at approximately $27,000. Finally, CX Institutional grew its holdings in Solstice Advanced Mat by 29.5% during the third quarter. CX Institutional now owns 1,421 shares of the company’s stock worth $80,000 after buying an additional 324 shares in the last quarter.

Solstice Advanced Mat Company Profile

Solstice Advanced Materials is a specialty materials company that develops and manufactures products for industrial and commercial customers. Its offerings include refrigerants and foam-blowing agents, materials used in semiconductor and electronics manufacturing, healthcare packaging films, and other performance materials.

The company was established as a spin-off of Honeywell’s Advanced Materials business, bringing together product lines and technologies developed within Honeywell and its predecessor businesses.