Elementis (LON:ELM) Sets New 12-Month High - Time to Buy?

Key Points

• Elementis shares reached a new 52-week high of GBX 186.60, up 3.0% from the prior close, with trading volume exceeding 6.9 million shares.
• Analyst sentiment is broadly positive: four analysts rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of GBX 208.75.
• The company reported quarterly earnings of GBX 8.60 per share, along with an 11.29% return on equity and 12.16% net margin; analysts expect full-year earnings of roughly GBX 9.50 per share.

Elementis plc (LON:ELM - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as GBX 186.60 and last traded at GBX 186.60, with a volume of 6965355 shares. The stock had previously closed at GBX 181.20.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ELM shares. Deutsche Bank Aktiengesellschaft boosted their price target on Elementis from GBX 200 to GBX 215 and gave the stock a "buy" rating in a report on Friday, July 31st. Jefferies Financial Group reissued a "buy" rating and set a GBX 210 target price on shares of Elementis in a research note on Thursday, July 30th. Finally, Berenberg Bank increased their target price on shares of Elementis from GBX 195 to GBX 220 and gave the stock a "buy" rating in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of GBX 208.75.

Elementis Stock Up 3.0%

The company has a market capitalization of £1.07 billion, a price-to-earnings ratio of -23.92, a P/E/G ratio of 3.05 and a beta of 0.92. The company has a debt-to-equity ratio of 39.91, a current ratio of 2.27 and a quick ratio of 1.16. The firm's fifty day moving average price is GBX 159.48 and its 200-day moving average price is GBX 157.74.

Elementis (LON:ELM - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported GBX 8.60 earnings per share for the quarter. Elementis had a return on equity of 11.29% and a net margin of 12.16%. Sell-side analysts expect that Elementis plc will post 9.4993582 earnings per share for the current fiscal year.

Elementis declared that its board has approved a stock repurchase plan on Wednesday, June 3rd that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its shares are undervalued.

About Elementis

Elementis is a global specialty chemicals company listed on the London Stock Exchange. The Group employs c.1,000 across 20 global locations. As recognised innovation leaders with deep expertise in rheology (the science of flow), and formulation solutions, we develop distinctive solutions and products to improve performance, achieve smoother production, and enhance sustainability credentials for customers across a range of industries. The Group also owns and operates the largest high-quality hectorite mine in the world.

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