The Goldman Sachs Group Lowers Element Solutions (NYSE:ESI) Price Target to $24.00

Element Solutions (NYSE:ESI) had its target price lowered by analysts at The Goldman Sachs Group from $30.00 to $24.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 18.31% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Barclays reduced their price target on Element Solutions from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday. Truist Financial upgraded shares of Element Solutions from a “hold” rating to a “buy” rating and cut their target price for the stock from $28.00 to $24.00 in a report on Monday, April 14th. StockNews.com lowered shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Bank of America raised shares of Element Solutions from a “neutral” rating to a “buy” rating and dropped their price target for the company from $29.00 to $24.00 in a research report on Tuesday, April 15th. Finally, BMO Capital Markets decreased their price objective on shares of Element Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.38.

Element Solutions Stock Up 1.2 %

Shares of NYSE ESI opened at $20.29 on Monday. The stock has a market capitalization of $4.92 billion, a P/E ratio of 19.89, a PEG ratio of 2.30 and a beta of 1.28. Element Solutions has a one year low of $16.77 and a one year high of $29.78. The firm’s 50 day simple moving average is $22.55 and its two-hundred day simple moving average is $25.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77.

Element Solutions (NYSE:ESI) last issued its earnings results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The company had revenue of $593.70 million for the quarter, compared to analysts’ expectations of $576.73 million. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts expect that Element Solutions will post 1.45 EPS for the current fiscal year.

Insider Activity

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 109,100 shares in the company, valued at $2,847,510. This trade represents a 94.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ESI. Integrated Wealth Concepts LLC boosted its position in shares of Element Solutions by 1.8% during the fourth quarter. Integrated Wealth Concepts LLC now owns 23,979 shares of the company’s stock valued at $610,000 after purchasing an additional 423 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Element Solutions by 4.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 11,297 shares of the company’s stock valued at $287,000 after buying an additional 430 shares in the last quarter. Arizona State Retirement System grew its position in shares of Element Solutions by 0.8% in the 4th quarter. Arizona State Retirement System now owns 66,761 shares of the company’s stock worth $1,698,000 after buying an additional 545 shares during the period. Equitable Trust Co. grew its position in shares of Element Solutions by 1.7% in the 4th quarter. Equitable Trust Co. now owns 34,103 shares of the company’s stock worth $867,000 after buying an additional 576 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in shares of Element Solutions by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 98,398 shares of the company’s stock worth $2,502,000 after acquiring an additional 610 shares in the last quarter. Hedge funds and other 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.