Elementis (LON:ELM) Shares Cross Above 200-Day Moving Average – Here’s Why

Elementis plc (LON:ELM)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of GBX 161.19 and traded as high as GBX 181.20. Elementis shares last traded at GBX 179.08, with a volume of 52,800,164 shares traded.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Berenberg Bank upped their price objective 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. JPMorgan Chase & Co. raised their target price on shares of Elementis from GBX 186 to GBX 190 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 210 price target on shares of Elementis in a research report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased 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 research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 205.

Elementis Stock Up 0.9%

The company has a debt-to-equity ratio of 39.91, a quick ratio of 1.16 and a current ratio of 2.27. The company has a market capitalization of £1.00 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 3.05 and a beta of 0.93. The firm’s 50-day simple moving average is GBX 176.69 and its 200 day simple moving average is GBX 161.35.

Elementis (LON:ELM) last announced 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, equities research analysts forecast that Elementis plc will post 9.4993582 earnings per share for the current year.

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.