Elementis (LON:ELM) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Elementis plc (LON:ELM)’s share price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of GBX 160.18 and traded as high as GBX 182.60. Elementis shares last traded at GBX 176, with a volume of 735,450 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped 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. Jefferies Financial Group reissued a “buy” rating and set a GBX 210 target price on shares of Elementis in a research note on Thursday, July 30th. Berenberg Bank boosted their target price on shares of Elementis from GBX 195 to GBX 220 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Elementis from GBX 186 to GBX 190 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 205.

Elementis Stock Down 1.0%

The company has a current ratio of 2.27, a quick ratio of 1.16 and a debt-to-equity ratio of 39.91. The stock’s 50-day moving average price is GBX 175.15 and its 200-day moving average price is GBX 160.31. The company has a market cap of £1.00 billion, a P/E ratio of 14.02, a PEG ratio of 3.05 and a beta of 0.93.

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

Elementis announced that its board has approved a stock buyback plan on Wednesday, June 3rd that permits the company to buyback 0 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is 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.