Elmet Group Co. (NASDAQ:ELMT) Stock Has Consensus Target Price of $25.00 According to Analysts

Shares of Elmet Group Co. (NASDAQ:ELMT) have earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $25.00.

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

Hedge Funds Weigh In On Elmet Group

A number of large investors have recently modified their holdings of ELMT. Bangor Savings Bank bought a new position in Elmet Group in the 3rd quarter valued at $48,741,000. Wellington Management Group LLP purchased a new position in shares of Elmet Group during the 2nd quarter valued at $10,537,000. AWM Investment Company Inc. bought a new position in shares of Elmet Group in the second quarter worth $6,807,000. Skylands Capital LLC increased its holdings in shares of Elmet Group by 22.9% in the third quarter. Skylands Capital LLC now owns 133,036 shares of the company’s stock worth $2,655,000 after purchasing an additional 24,819 shares during the period. Finally, State Street Corp bought a new position in shares of Elmet Group in the second quarter worth $2,640,000.

Elmet Group Trading Down 1.5%

Shares of ELMT stock opened at $20.91 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.03 and a quick ratio of 1.60. The firm has a 50-day moving average price of $19.14. Elmet Group has a one year low of $12.48 and a one year high of $25.03.

Elmet Group (NASDAQ:ELMT) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.38. The firm had revenue of $66.40 million for the quarter. The business’s revenue was up 35.2% compared to the same quarter last year. On average, sell-side analysts forecast that Elmet Group will post 0.72 EPS for the current year.

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.