Elmet Group Co. (NASDAQ:ELMT) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Elmet Group Co. (NASDAQ:ELMT) have been given a consensus rating of “Moderate Buy” by the six brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $27.50.

A number of research firms recently commented on ELMT. Cantor Fitzgerald boosted their target price on Elmet Group from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday. Weiss Ratings upgraded shares of Elmet Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. Roth Capital reissued a “buy” rating and set a $26.00 price target (up from $21.00) on shares of Elmet Group in a research note on Tuesday, September 15th. Canaccord Genuity Group upped their target price on shares of Elmet Group from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Finally, Needham & Company LLC increased their price target on Elmet Group from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th.

Elmet Group Trading Up 4.0%

Shares of NASDAQ ELMT opened at $21.74 on Friday. Elmet Group has a 12 month low of $12.48 and a 12 month high of $25.03. The company has a market cap of $662.18 million and a price-to-earnings ratio of 53.02. The stock has a fifty day moving average of $19.20. The company has a quick ratio of 1.60, a current ratio of 3.03 and a debt-to-equity ratio of 0.04.

Elmet Group (NASDAQ:ELMT) last issued its earnings results on Thursday, August 13th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.38. The business had revenue of $66.40 million during the quarter. The firm’s revenue for the quarter was up 35.2% on a year-over-year basis. On average, sell-side analysts predict that Elmet Group will post 0.72 earnings per share for the current year.

Hedge Funds Weigh In On Elmet Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELMT. State of Alaska Department of Revenue purchased a new position in shares of Elmet Group in the 3rd quarter worth approximately $34,000. Squarepoint Ops LLC purchased a new position in shares of Elmet Group during the second quarter worth $2,560,000. State Street Corp purchased a new position in shares of Elmet Group during the 2nd quarter valued at about $2,640,000. Skylands Capital LLC lifted its holdings in Elmet Group by 22.9% in the third quarter. Skylands Capital LLC now owns 133,036 shares of the company’s stock valued at $2,655,000 after acquiring an additional 24,819 shares during the period. Finally, AWM Investment Company Inc. acquired a new position in shares of Elmet Group in the 2nd quarter valued at $6,807,000.

About Elmet Group

Elmet provides precision-engineered components and advanced high-energy systems for growth markets. Our customers in these markets require advanced technology involving critical and strategic materials, such as tungsten, molybdenum and niobium (such materials, the “Critical Materials”) and high-level radio frequency (“RF”) engineering, including plasma generation, radar, and other high-energy systems (together, “High-Power Microwave”). Our products and solutions are integral to the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries.