Elementis (LON:ELM) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Elementis plc's stock has crossed above its 200-day moving average of GBX 148.98, reaching a high of GBX 165.80 during trading.
• JPMorgan Chase & Co. has downgraded Elementis to a "neutral" rating, while the overall consensus rating remains a "Moderate Buy" with a target price of GBX 170.
• Insider Trudy Schoolenberg purchased 30,000 shares of Elementis stock at an average price of GBX 172, reflecting confidence in the company's future performance.

Elementis plc (LON:ELM - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 148.98 ($2.01) and traded as high as GBX 165.80 ($2.23). Elementis shares last traded at GBX 161.80 ($2.18), with a volume of 1,660,364 shares trading hands.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. downgraded shares of Elementis to a "neutral" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 170.

Elementis Price Performance

The stock has a market capitalization of £935.66 million, a P/E ratio of -1,264.06, a price-to-earnings-growth ratio of 3.05 and a beta of 2.02. The business's 50 day simple moving average is GBX 166.36 and its two-hundred day simple moving average is GBX 148.93. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 37.85.

Insider Buying and Selling at Elementis

In other news, insider Trudy Schoolenberg purchased 30,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average cost of GBX 172 per share, with a total value of £51,600. 1.78% of the stock is owned by insiders.

Elementis Company Profile

Elementis is a global specialty chemicals company. We offer performance-driven additives that help create innovative formulations for consumer and industrial applications. As a FTSE 250 company, listed on the London Stock Exchange, we employ c.1,030 people globally. We have a nearly 200-year tradition of creating ingredients that add value to everyday consumer and industrial products.