Element Solutions (NYSE:ESI) Upgraded to Strong-Buy at Barclays

Element Solutions (NYSE:ESI) was upgraded by equities research analysts at Barclays to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

ESI has been the topic of a number of other research reports. Bank of America began coverage on Element Solutions in a report on Tuesday, September 1st. They issued a “buy” rating and a $42.00 target price on the stock. Wolfe Research set a $47.00 price target on Element Solutions in a report on Wednesday, July 29th. Freedom Capital raised Element Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, August 28th. Truist Financial upped their price objective on Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, Jefferies Financial Group began coverage on Element Solutions in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $55.00 price objective on the stock. Four analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $46.18.

Element Solutions Stock Performance

NYSE ESI opened at $35.84 on Monday. The company has a current ratio of 2.91, a quick ratio of 2.11 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 48.43, a P/E/G ratio of 1.38 and a beta of 1.26. The firm’s 50 day simple moving average is $35.88 and its 200 day simple moving average is $38.85. Element Solutions has a 1 year low of $22.86 and a 1 year high of $49.25.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The business had revenue of $977.90 million for the quarter, compared to analysts’ expectations of $873.19 million. During the same period last year, the firm posted $0.20 earnings per share. The firm’s quarterly revenue was up 56.4% compared to the same quarter last year. As a group, research analysts expect that Element Solutions will post 1.81 earnings per share for the current fiscal year.

Institutional Trading of Element Solutions

Hedge funds have recently added to or reduced their stakes in the stock. HB Wealth Management LLC grew its stake in shares of Element Solutions by 4.8% in the second quarter. HB Wealth Management LLC now owns 6,295 shares of the company’s stock worth $301,000 after purchasing an additional 291 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Element Solutions by 57.4% in the first quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock valued at $32,000 after purchasing an additional 346 shares during the period. EverSource Wealth Advisors LLC raised its position in Element Solutions by 3.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,450 shares of the company’s stock worth $357,000 after purchasing an additional 385 shares during the last quarter. Versant Capital Management Inc raised its position in Element Solutions by 5.1% during the 2nd quarter. Versant Capital Management Inc now owns 9,013 shares of the company’s stock worth $430,000 after purchasing an additional 436 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in Element Solutions by 151.0% during the 1st quarter. Assetmark Inc. now owns 778 shares of the company’s stock worth $27,000 after buying an additional 468 shares during the period. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Company Profile

Element Solutions Inc (NYSE: ESI) is a specialty chemicals company that develops and manufactures products used in electronics, industrial processes, and other specialized applications. Its materials and process solutions are designed to improve manufacturing performance, product reliability, and surface protection across a range of end markets.

The company’s Electronics segment supplies chemicals, materials, and equipment used in printed circuit board fabrication, semiconductor packaging, and other electronic component manufacturing.