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

Key Points

• Elementis shares rose above their 200-day moving average, reaching GBX 182.60 before last trading at GBX 176. The stock’s 200-day average is GBX 160.18.
• Analysts remain broadly positive: four firms rate Elementis “Buy” and one rates it “Hold,” producing a consensus “Moderate Buy” rating and an average price target of GBX 205.
• The company reported quarterly earnings of GBX 8.60 per share, with an 11.29% return on equity and a 12.16% net margin; analysts expect full-year EPS of approximately GBX 9.50.

Elementis plc (LON:ELM - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 160.18 and traded as high as GBX 182.60. Elementis shares last traded at GBX 176, with a volume of 735,450 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ELM. Deutsche Bank Aktiengesellschaft boosted their price objective on Elementis from GBX 200 to GBX 215 and gave the stock a "buy" rating in a research report on Friday, July 31st. Berenberg Bank raised their target price on Elementis from GBX 195 to GBX 220 and gave the company a "buy" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on Elementis from GBX 186 to GBX 190 and gave the stock a "neutral" rating in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a GBX 210 price target on shares of Elementis in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of GBX 205.

Elementis Price Performance

The firm has a market capitalization of £997.64 million, a PE ratio of 13.97, a P/E/G ratio of 3.05 and a beta of 0.93. The stock has a 50-day simple moving average of GBX 174.75 and a 200-day simple moving average of GBX 160.18. The company has a quick ratio of 1.16, a current ratio of 2.27 and a debt-to-equity ratio of 39.91.

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%. Analysts forecast that Elementis plc will post 9.4993582 EPS for the current year.

Elementis declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 3rd that allows the company to buyback 0 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership 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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