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

Key Points

• Elementis shares crossed above their 200-day moving average, reaching GBX 172 and last trading at GBX 170.07, compared with a 200-day average of GBX 159.90.
• Analysts remain broadly positive: four rate the stock a Buy and one a Hold, producing a consensus “Moderate Buy” rating and a GBX 205 price target.
• The company reported quarterly EPS of GBX 8.60, with an 11.29% return on equity and a 12.16% net margin; analysts expect roughly GBX 9.50 in full-year EPS.

Elementis plc (LON:ELM - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 159.90 and traded as high as GBX 172. Elementis shares last traded at GBX 170.07, with a volume of 606,726 shares traded.

Wall Street Analyst Weigh In

ELM has been the subject of a number of recent analyst reports. Berenberg Bank increased their price target on shares of Elementis from GBX 195 to GBX 220 and gave the company a "buy" rating in a research note on Friday, July 31st. Jefferies Financial Group restated a "buy" rating and set a GBX 210 price objective on shares of Elementis in a research note on Thursday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Elementis from GBX 186 to GBX 190 and gave the stock a "neutral" rating in a research note on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Elementis from GBX 200 to GBX 215 and gave the company a "buy" rating in a report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of GBX 205.

Elementis Price Performance

The company has a current ratio of 2.27, a quick ratio of 1.16 and a debt-to-equity ratio of 39.91. The company has a market capitalization of £964.03 million, a P/E ratio of 13.50, a P/E/G ratio of 3.05 and a beta of 0.93. The company has a 50 day moving average price of GBX 172.83 and a 200 day moving average price of GBX 159.90.

Elementis (LON:ELM - Get Free Report) last posted its quarterly earnings results 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%. On average, equities analysts predict that Elementis plc will post 9.4993582 EPS for the current fiscal year.

Elementis declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 3rd that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors 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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