Elementis (LON:ELM) Hits New 52-Week High – Should You Buy?

Shares of Elementis plc (LON:ELM) hit 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 changing hands. The stock had previously closed at GBX 181.20.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Berenberg Bank raised their price target on shares of Elementis from GBX 195 to GBX 220 and gave the company a “buy” rating in a research report on Friday, July 31st. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 210 price objective on shares of Elementis in a research report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Elementis from GBX 200 to GBX 215 and gave the company a “buy” rating in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Elementis has a consensus rating of “Moderate Buy” and a consensus price target of GBX 208.75.

Elementis Stock Performance

The company has a 50-day simple moving average of GBX 160.84 and a two-hundred day simple moving average of GBX 158.05. The company has a quick ratio of 1.16, a current ratio of 2.27 and a debt-to-equity ratio of 39.91. The firm has a market cap of £1.06 billion, a PE ratio of 14.83, a PEG ratio of 3.05 and a beta of 0.92.

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

Elementis declared that its Board of Directors has authorized a share buyback program on Wednesday, June 3rd that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Elementis Company Profile

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.