Element Solutions (NYSE:ESI) Rating Increased to Strong-Buy at Seaport Res Ptn

Element Solutions (NYSE:ESI) was upgraded by research analysts at Seaport Res Ptn to a “strong-buy” rating in a research report issued on Monday, Zacks.com reports.

Other analysts also recently issued reports about the company. UBS Group increased their price objective on Element Solutions from $30.00 to $33.00 and gave the company a “buy” rating in a report on Monday, June 24th. StockNews.com upgraded Element Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Finally, The Goldman Sachs Group upped their target price on Element Solutions from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

Element Solutions Stock Performance

Element Solutions stock opened at $25.68 on Monday. The company has a quick ratio of 2.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.80. The stock has a market cap of $6.22 billion, a PE ratio of 47.56, a P/E/G ratio of 1.39 and a beta of 1.29. Element Solutions has a 12-month low of $17.57 and a 12-month high of $28.68. The business’s 50-day moving average price is $25.82 and its two-hundred day moving average price is $25.49.

Element Solutions (NYSE:ESI) last released its quarterly earnings data on Monday, July 29th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Element Solutions had a net margin of 8.24% and a return on equity of 14.42%. The business had revenue of $613.00 million during the quarter, compared to analysts’ expectations of $606.95 million. During the same period in the prior year, the company earned $0.31 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, analysts expect that Element Solutions will post 1.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Element Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in ESI. Signaturefd LLC increased its holdings in Element Solutions by 13.8% during the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock worth $100,000 after purchasing an additional 448 shares in the last quarter. QRG Capital Management Inc. grew its stake in Element Solutions by 7.5% in the 2nd quarter. QRG Capital Management Inc. now owns 11,389 shares of the company’s stock valued at $309,000 after purchasing an additional 798 shares during the period. EverSource Wealth Advisors LLC grew its stake in Element Solutions by 39.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock valued at $82,000 after purchasing an additional 864 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Element Solutions by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,883 shares of the company’s stock valued at $1,380,000 after purchasing an additional 1,036 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Element Solutions during the 2nd quarter worth $31,000. Institutional investors own 92.32% of the company’s stock.

About Element Solutions

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.