Truist Financial Raises Element Solutions (NYSE:ESI) Price Target to $33.00

Element Solutions (NYSE:ESI) had its target price hoisted by equities research analysts at Truist Financial from $30.00 to $33.00 in a note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 13.87% from the stock’s current price.

Several other equities research analysts also recently weighed in on ESI. Bank of America lifted their price target on shares of Element Solutions from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. CJS Securities raised Element Solutions to a “strong-buy” rating in a research report on Thursday, December 11th. Mizuho cut their price target on Element Solutions from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. KeyCorp raised their price objective on Element Solutions from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, BMO Capital Markets lowered Element Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Element Solutions currently has an average rating of “Moderate Buy” and an average target price of $31.25.

Element Solutions Trading Down 1.0%

NYSE ESI opened at $28.98 on Wednesday. The stock has a market capitalization of $7.01 billion, a P/E ratio of 29.27, a P/E/G ratio of 1.24 and a beta of 1.28. The business has a 50 day simple moving average of $26.39 and a 200 day simple moving average of $25.78. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.05 and a quick ratio of 3.28. Element Solutions has a one year low of $16.77 and a one year high of $29.88.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $656.10 million for the quarter, compared to analyst estimates of $645.13 million. Element Solutions had a return on equity of 14.01% and a net margin of 9.58%.The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 earnings per share. Research analysts expect that Element Solutions will post 1.45 earnings per share for the current year.

Insider Activity

In other news, insider Matthew Liebowitz sold 37,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $26.60, for a total value of $984,200.00. Following the transaction, the insider owned 117,393 shares in the company, valued at $3,122,653.80. The trade was a 23.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ian G. H. Ashken sold 292,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $27.00, for a total value of $7,884,000.00. Following the sale, the director directly owned 306,880 shares of the company’s stock, valued at $8,285,760. The trade was a 48.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Element Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elevation Point Wealth Partners LLC bought a new stake in shares of Element Solutions in the second quarter valued at approximately $26,000. Farther Finance Advisors LLC grew its stake in Element Solutions by 154.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,116 shares of the company’s stock valued at $28,000 after buying an additional 678 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Element Solutions by 710.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,288 shares of the company’s stock valued at $29,000 after acquiring an additional 1,129 shares during the period. Community Bank N.A. bought a new position in shares of Element Solutions in the third quarter worth $33,000. Finally, American National Bank & Trust purchased a new position in shares of Element Solutions in the second quarter valued at $36,000. Institutional investors own 92.32% of the company’s stock.

Element Solutions Company Profile

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.