Elementis (LON:ELM) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Elementis plc (LON:ELM)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 159.49 and traded as high as GBX 183.80. Elementis shares last traded at GBX 175, with a volume of 1,712,180 shares.

Analyst Ratings Changes

ELM has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Elementis from GBX 186 to GBX 190 and gave the company a “neutral” rating in a report on Wednesday, August 12th. Jefferies Financial Group restated a “buy” rating and issued a GBX 210 price objective on shares of Elementis in a research report on Thursday, July 30th. Berenberg Bank raised their target price on shares of Elementis from GBX 195 to GBX 220 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Elementis from GBX 200 to GBX 215 and gave the stock 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 205.

Elementis Stock Down 0.5%

The company has a market cap of £991.00 million, a P/E ratio of 13.83, a P/E/G ratio of 3.05 and a beta of 0.93. The stock has a 50-day moving average of GBX 168.87 and a two-hundred day moving average of GBX 159.59. The company has a debt-to-equity ratio of 39.91, a quick ratio of 1.16 and a current ratio of 2.27.

Elementis (LON:ELM) last posted its quarterly earnings results 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%. On average, research analysts anticipate that Elementis plc will post 9.4993582 EPS for the current fiscal year.

Elementis declared that its Board of Directors has approved a share repurchase program on Wednesday, June 3rd that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are 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.