Elmet Group Co. (NASDAQ:ELMT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Elmet Group Co. (NASDAQ:ELMT) has received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $20.75.

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group increased their price objective on shares of Elmet Group from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Roth Capital assumed coverage on Elmet Group in a report on Monday, May 18th. They set a “buy” rating and a $21.00 target price for the company. Cantor Fitzgerald began coverage on Elmet Group in a report on Monday, May 18th. They issued an “overweight” rating and a $20.00 price target on the stock. Needham & Company LLC initiated coverage on Elmet Group in a research note on Monday, May 18th. They set a “buy” rating and a $21.00 price objective for the company. Finally, Weiss Ratings initiated coverage on Elmet Group in a research report on Monday, July 20th. They set a “sell (e)” rating on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ELMT. Wellington Management Group LLP purchased a new stake in Elmet Group during the second quarter valued at approximately $10,537,000. AWM Investment Company Inc. acquired a new position in shares of Elmet Group during the second quarter worth $6,807,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Elmet Group during the 2nd quarter valued at $53,000.

Elmet Group Trading Up 2.5%

Shares of ELMT stock opened at $16.78 on Friday. Elmet Group has a twelve month low of $12.48 and a twelve month high of $22.51. The stock has a market cap of $511.12 million and a PE ratio of 40.93. The stock has a fifty day moving average price of $16.33. 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 posted its earnings results on Thursday, August 13th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.38. The business had revenue of $66.40 million for the quarter. The company’s quarterly revenue was up 35.2% on a year-over-year basis. Research analysts predict that Elmet Group will post 0.53 EPS for the current fiscal year.

Elmet Group Company Profile

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.