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

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 equities research analysts at KeyCorp from $29.00 to $30.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price objective points to a potential upside of 27.12% from the company's current price.

Several other research firms also recently commented on ESI. BMO Capital Markets dropped their price objective on shares of Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Truist Financial raised shares of Element Solutions from a "hold" rating to a "buy" rating and dropped their price objective for the company from $28.00 to $24.00 in a report on Monday, April 14th. UBS Group upped their price objective on shares of Element Solutions from $29.00 to $30.00 and gave the company a "buy" rating in a report on Thursday. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $27.00 price objective (up from $24.00) on shares of Element Solutions in a report on Tuesday, July 15th. Finally, Barclays dropped their price objective on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Element Solutions presently has an average rating of "Moderate Buy" and an average target price of $27.38.

Element Solutions Stock Up 1.9%

NYSE:ESI opened at $23.60 on Friday. The company has a market cap of $5.72 billion, a PE ratio of 23.60, a P/E/G ratio of 1.67 and a beta of 1.23. Element Solutions has a twelve month low of $16.77 and a twelve month high of $29.78. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 0.64. The company's 50 day moving average is $22.88 and its two-hundred day moving average is $23.19.

Element Solutions (NYSE:ESI - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $625.20 million for the quarter, compared to the consensus estimate of $587.45 million. Element Solutions had a net margin of 9.66% and a return on equity of 14.40%. Element Solutions's revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS. Analysts anticipate that Element Solutions will post 1.45 EPS for the current year.

Hedge Funds Weigh In On Element Solutions

A number of large investors have recently added to or reduced their stakes in ESI. Park Square Financial Group LLC acquired a new position in Element Solutions during the fourth quarter worth $28,000. American National Bank & Trust acquired a new position in Element Solutions during the second quarter worth $36,000. SVB Wealth LLC purchased a new stake in shares of Element Solutions during the first quarter worth $37,000. Fifth Third Bancorp grew its holdings in shares of Element Solutions by 462.5% during the second quarter. Fifth Third Bancorp now owns 2,160 shares of the company's stock worth $49,000 after buying an additional 1,776 shares in the last quarter. Finally, Eagle Bay Advisors LLC grew its holdings in shares of Element Solutions by 940.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,279 shares of the company's stock worth $52,000 after buying an additional 2,060 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.