Barclays Cuts Element Solutions (NYSE:ESI) Price Target to $27.00

Element Solutions (NYSE:ESI) had its target price dropped by equities research analysts at Barclays from $30.00 to $27.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 33.10% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. KeyCorp reduced their target price on shares of Element Solutions from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Bank of America raised shares of Element Solutions from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $29.00 to $24.00 in a research note on Tuesday, April 15th. Truist Financial upgraded Element Solutions from a “hold” rating to a “buy” rating and dropped their price target for the company from $28.00 to $24.00 in a research report on Monday, April 14th. BMO Capital Markets lowered their price objective on Element Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Finally, StockNews.com cut Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.38.

Element Solutions Stock Up 1.2 %

ESI stock opened at $20.29 on Monday. The stock has a market capitalization of $4.92 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.30 and a beta of 1.28. Element Solutions has a 52 week low of $16.77 and a 52 week high of $29.78. The firm has a 50-day simple moving average of $22.55 and a 200-day simple moving average of $25.20. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The firm had revenue of $593.70 million for the quarter, compared to analyst estimates of $576.73 million. During the same period in the previous year, the company posted $0.34 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that Element Solutions will post 1.45 earnings per share for the current fiscal year.

Insider Activity at Element Solutions

In other news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total value of $52,200,000.00. Following the sale, the director now directly owns 109,100 shares of the company’s stock, valued at approximately $2,847,510. The trade was a 94.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.90% of the stock is owned by insiders.

Institutional Trading of Element Solutions

Several institutional investors have recently added to or reduced their stakes in ESI. Envestnet Asset Management Inc. boosted its position in shares of Element Solutions by 9.0% during the first quarter. Envestnet Asset Management Inc. now owns 1,064,465 shares of the company’s stock worth $24,068,000 after buying an additional 87,491 shares during the period. Bank of New York Mellon Corp lifted its stake in Element Solutions by 48.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,716,292 shares of the company’s stock worth $38,805,000 after acquiring an additional 560,346 shares in the last quarter. World Investment Advisors purchased a new position in Element Solutions during the 1st quarter valued at about $242,000. OneDigital Investment Advisors LLC grew its position in Element Solutions by 6.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 16,748 shares of the company’s stock valued at $379,000 after acquiring an additional 1,052 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Element Solutions by 1,431.1% during the first quarter. Principal Financial Group Inc. now owns 1,143,869 shares of the company’s stock worth $25,863,000 after purchasing an additional 1,069,160 shares during the period. Institutional investors and hedge funds 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.