KeyCorp Boosts Element Solutions (NYSE:ESI) Price Target to $30.00

Key Points

• KeyCorp has raised their price target for Element Solutions from $29.00 to $30.00, indicating a potential upside of 27.12% from the current stock price.
• Element Solutions reported earnings of $0.37 per share for the last quarter, exceeding estimates and showing a 2.0% increase in revenue compared to the same quarter last year.
• The stock is currently rated as a "Moderate Buy," with the average target price standing at $27.38, and most analysts maintaining positive ratings on the stock.

Element Solutions (NYSE:ESI - Get Free Report) had its price target raised by investment analysts at KeyCorp from $29.00 to $30.00 in a report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price target suggests a potential upside of 27.39% from the company's previous close.

A number of other equities analysts have also weighed in on ESI. The Goldman Sachs Group reissued a "neutral" rating and issued a $27.00 target price (up previously from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. Bank of America upgraded shares of Element Solutions from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $29.00 to $24.00 in a research note on Tuesday, April 15th. UBS Group increased their target price on shares of Element Solutions from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Barclays reduced their target price on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Mizuho increased their price objective on shares of Element Solutions from $24.00 to $27.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $27.38.

Element Solutions Stock Up 0.9%

Shares of ESI traded up $0.21 during trading hours on Friday, hitting $23.55. The company had a trading volume of 948,397 shares, compared to its average volume of 2,655,276. The firm has a fifty day moving average price of $22.95 and a 200-day moving average price of $23.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.30 and a current ratio of 4.10. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 1.66 and a beta of 1.26. Element Solutions has a 52-week low of $16.77 and a 52-week high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%. The firm had revenue of $625.20 million during the quarter, compared to analyst estimates of $587.45 million. During the same quarter in the previous year, the firm earned $0.36 EPS. Element Solutions's quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Element Solutions will post 1.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank boosted its stake in Element Solutions by 479.7% during the first quarter. Amalgamated Bank now owns 67,594 shares of the company's stock worth $1,528,000 after buying an additional 55,933 shares during the period. Bank of New York Mellon Corp boosted its stake in Element Solutions by 48.5% during the first quarter. Bank of New York Mellon Corp now owns 1,716,292 shares of the company's stock worth $38,805,000 after buying an additional 560,346 shares during the period. SG Americas Securities LLC bought a new stake in shares of Element Solutions during the first quarter worth $623,000. QRG Capital Management Inc. lifted its position in shares of Element Solutions by 13.3% during the first quarter. QRG Capital Management Inc. now owns 28,196 shares of the company's stock worth $638,000 after purchasing an additional 3,302 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Element Solutions by 110.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 59,102 shares of the company's stock worth $1,336,000 after purchasing an additional 30,953 shares during the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Company Profile

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.