Elmet Group Co. (NASDAQ:ELMT) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts give Elmet Group a “Moderate Buy” consensus: Four of six analysts recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $20.50, above the reported $14.36 opening price.
• Recent coverage is mixed but includes new bullish calls: Needham set a $21.00 target and Canaccord Genuity set a $20.00 target, while Weiss Ratings initiated coverage with a sell rating.
• Elmet exceeded quarterly expectations: The company reported $0.23 in earnings per share versus consensus estimates for a $0.18 loss, and revenue of $56.01 million compared with expectations of $52.77 million.

Shares of Elmet Group Co. (NASDAQ:ELMT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.50.

A number of brokerages have recently commented on ELMT. Zacks Research raised shares of Elmet Group to a "hold" rating in a report on Tuesday, May 19th. Needham & Company LLC started coverage on shares of Elmet Group in a research note on Monday, May 18th. They set a "buy" rating and a $21.00 price target for the company. Weiss Ratings initiated coverage on shares of Elmet Group in a research report on Monday, July 20th. They set a "sell (e)" rating on the stock. Wall Street Zen upgraded shares of Elmet Group to a "hold" rating in a research note on Saturday, May 2nd. Finally, Canaccord Genuity Group initiated coverage on shares of Elmet Group in a report on Monday, May 18th. They issued a "buy" rating and a $20.00 target price for the company.

Elmet Group Stock Up 3.2%

NASDAQ:ELMT opened at $14.36 on Tuesday. The stock has a market cap of $430.51 million and a P/E ratio of 62.43. Elmet Group has a 52-week low of $12.48 and a 52-week high of $22.51. The stock's 50 day moving average price is $16.99.

Elmet Group (NASDAQ:ELMT - Get Free Report) last issued its quarterly earnings data on Friday, May 29th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.41. The firm had revenue of $56.01 million during the quarter, compared to analysts' expectations of $52.77 million.

Elmet Group Company Profile

Elmet provides precision-engineered components and advanced high-energy systems for growth markets. Our customers in these markets require advanced technology involving critical and strategic materials, such as tungsten, molybdenum and niobium (such materials, the “Critical Materials”) and high-level radio frequency (“RF”) engineering, including plasma generation, radar, and other high-energy systems (together, “High-Power Microwave”). Our products and solutions are integral to the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries.

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