Elmet Group Co. (NASDAQ:ELMT) Given Consensus Rating of “Moderate Buy” by Brokerages

Elmet Group Co. (NASDAQ:ELMT) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $20.50.

A number of research analysts have commented on ELMT shares. Needham & Company LLC began coverage on shares of Elmet Group in a research note on Monday, May 18th. They set a “buy” rating and a $21.00 price target for the company. Roth Capital initiated coverage on Elmet Group in a report on Monday, May 18th. They set a “buy” rating and a $21.00 price objective for the company. Zacks Research upgraded shares of Elmet Group to a “hold” rating in a research note on Tuesday, May 19th. Canaccord Genuity Group initiated coverage on shares of Elmet Group in a report on Monday, May 18th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of Elmet Group in a research report on Monday, May 18th. They set an “overweight” rating and a $20.00 target price for the company.

Insider Buying and Selling at Elmet Group

In related news, Director Kathie Merrill Leonard acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were purchased at an average price of $14.00 per share, with a total value of $70,000.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $70,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Kimberly Monzeglio Anania acquired 7,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The stock was purchased at an average price of $14.00 per share, for a total transaction of $98,000.00. Following the completion of the transaction, the director directly owned 7,000 shares in the company, valued at approximately $98,000. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing.

Elmet Group Trading Down 0.8%

Shares of NASDAQ:ELMT opened at $15.82 on Friday. The firm has a market capitalization of $474.28 million and a P/E ratio of 68.78. The company has a 50-day simple moving average of $17.27. Elmet Group has a 52-week low of $13.38 and a 52-week high of $22.51.

Elmet Group (NASDAQ:ELMT) last posted its quarterly earnings data on Friday, May 29th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.41. The business had revenue of $56.01 million for the quarter, compared to analyst estimates of $52.77 million.

About Elmet Group

Elmet provides precision-engineered components and advanced high-energy systems for growth markets. Our customers in these markets require advanced technology involving critical and strategic materials, such as tungsten, molybdenum and niobium (such materials, the “Critical Materials”) and high-level radio frequency (“RF”) engineering, including plasma generation, radar, and other high-energy systems (together, “High-Power Microwave”). Our products and solutions are integral to the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries.