Element Solutions (NYSE:ESI) Price Target Raised to $31.00

Key Points

• Bank of America has raised its price target for Element Solutions from $29.00 to $31.00, indicating a potential upside of 23.51% from the stock's previous close.
• A consensus of analysts has rated Element Solutions as a "Moderate Buy," with eight analysts issuing Buy ratings and a consensus price target of $28.75.
• Element Solutions recently reported revenue of $625.20 million for the last quarter, surpassing analyst estimates and reflecting a 2.0% year-over-year increase.

Element Solutions (NYSE:ESI - Get Free Report) had its target price lifted by investment analysts at Bank of America from $29.00 to $31.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price objective points to a potential upside of 23.51% from the company's previous close.

A number of other research firms have also issued reports on ESI. Mizuho upped their price target on Element Solutions from $27.00 to $29.00 and gave the company an "outperform" rating in a research report on Friday, October 3rd. Weiss Ratings restated a "hold (c+)" rating on shares of Element Solutions in a research report on Wednesday, October 8th. Fermium Researc upgraded Element Solutions to a "strong-buy" rating in a research report on Wednesday, September 17th. KeyCorp upped their price target on Element Solutions from $29.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, UBS Group upped their price target on Element Solutions from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Element Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.75.

Element Solutions Price Performance

NYSE:ESI opened at $25.10 on Tuesday. Element Solutions has a 12 month low of $16.77 and a 12 month high of $29.78. The stock has a 50 day moving average of $25.53 and a two-hundred day moving average of $23.07. The company has a current ratio of 4.10, a quick ratio of 3.30 and a debt-to-equity ratio of 0.62. The firm has a market cap of $6.06 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.37 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 company had revenue of $625.20 million during the quarter, compared to analyst estimates of $587.45 million. During the same period in the previous year, the business earned $0.36 EPS. Element Solutions's quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Element Solutions will post 1.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Element Solutions news, EVP Matthew Liebowitz sold 50,000 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $26.55, for a total transaction of $1,327,500.00. Following the transaction, the executive vice president directly owned 57,353 shares in the company, valued at $1,522,722.15. This represents a 46.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Carey J. Dorman sold 40,725 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $26.66, for a total value of $1,085,728.50. Following the transaction, the executive vice president owned 214,837 shares in the company, valued at $5,727,554.42. This trade represents a 15.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,399 shares of company stock worth $4,492,561 over the last ninety days. Corporate insiders own 6.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ESI. GAMMA Investing LLC lifted its stake in Element Solutions by 2,339.4% during the first quarter. GAMMA Investing LLC now owns 37,420 shares of the company's stock worth $846,000 after purchasing an additional 35,886 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Element Solutions in the first quarter valued at $623,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Element Solutions by 110.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 59,102 shares of the company's stock valued at $1,336,000 after acquiring an additional 30,953 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Element Solutions by 13.3% in the first quarter. QRG Capital Management Inc. now owns 28,196 shares of the company's stock valued at $638,000 after acquiring an additional 3,302 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Element Solutions in the first quarter valued at $2,791,000. 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.

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