Element Solutions (NYSE:ESI) Given New $24.00 Price Target at The Goldman Sachs Group

Element Solutions (NYSE:ESI - Get Free Report) had its price target lowered by stock analysts at The Goldman Sachs Group from $30.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 20.57% from the company's previous close.

Several other equities analysts have also recently weighed in on ESI. StockNews.com cut Element Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. UBS Group cut their price objective on shares of Element Solutions from $31.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Barclays decreased their target price on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Monday. BMO Capital Markets dropped their target price on shares of Element Solutions from $34.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Truist Financial raised shares of Element Solutions from a "hold" rating to a "buy" rating and decreased their price objective for the company from $28.00 to $24.00 in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $26.38.

Element Solutions Stock Performance

NYSE ESI traded down $0.30 on Monday, reaching $19.91. The stock had a trading volume of 638,778 shares, compared to its average volume of 1,924,032. Element Solutions has a 1-year low of $16.77 and a 1-year high of $29.78. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77. The company has a market cap of $4.83 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The firm has a fifty day moving average of $22.84 and a two-hundred day moving average of $25.28.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The business had revenue of $593.70 million for the quarter, compared to analyst estimates of $576.73 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. Element Solutions's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. On average, equities research analysts anticipate that Element Solutions will post 1.45 EPS for the current year.

Insider Activity

In related news, Director Martin E. Franklin sold 2,000,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total value of $52,200,000.00. Following the sale, the director now owns 109,100 shares of the company's stock, valued at $2,847,510. The trade was a 94.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ESI. Aaron Wealth Advisors LLC acquired a new position in shares of Element Solutions in the first quarter worth approximately $261,000. Summit Trail Advisors LLC bought a new stake in shares of Element Solutions in the 1st quarter valued at $1,031,000. Peregrine Capital Management LLC increased its position in shares of Element Solutions by 2.2% during the first quarter. Peregrine Capital Management LLC now owns 674,214 shares of the company's stock worth $15,244,000 after buying an additional 14,748 shares during the period. New York State Teachers Retirement System raised its stake in Element Solutions by 1,961.2% during the first quarter. New York State Teachers Retirement System now owns 70,328 shares of the company's stock worth $1,590,000 after buying an additional 66,916 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in Element Solutions by 479.7% in the first quarter. Amalgamated Bank now owns 67,594 shares of the company's stock valued at $1,528,000 after buying an additional 55,933 shares during the period. 92.32% of the stock is owned by institutional investors and hedge funds.

About Element Solutions

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.

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