Element Solutions (NYSE:ESI) Price Target Lowered to $29.00 at Mizuho

Mizuho lowered Element Solutions' price target from $31.00 to $29.00, maintaining an "outperform" rating. Other firms like UBS, Truist Financial, and BMO Capital Markets have adjusted their targets, with ratings ranging from "buy" to "strong-buy." The stock has a consensus "Moderate Buy" rating and an average price target of $30.75. Recent insider sales and hedge fund activities are also noted.

Element Solutions (NYSE:ESI - Get Free Report) had its price target dropped by investment analysts at Mizuho from $31.00 to $29.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price objective indicates a potential upside of 20.56% from the stock's previous close.

Element Solutions Forming Flat Base After Q2 Earnings

A number of other research firms have also issued reports on ESI. UBS Group raised their price target on Element Solutions from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, October 30th. Truist Financial increased their price target on Element Solutions from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, October 30th. Fermium Researc upgraded shares of Element Solutions to a "strong-buy" rating in a research report on Wednesday, September 17th. BMO Capital Markets boosted their target price on Element Solutions from $30.00 to $35.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 5th. Finally, Bank of America upped their price objective on Element Solutions from $29.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Element Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $30.75.

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Element Solutions Stock Down 0.4%

Shares of NYSE ESI traded down $0.11 during mid-day trading on Thursday, reaching $24.06. The company had a trading volume of 680,066 shares, compared to its average volume of 2,455,084. Element Solutions has a 52-week low of $16.77 and a 52-week high of $29.78. The stock has a market cap of $5.82 billion, a P/E ratio of 24.36, a PEG ratio of 1.74 and a beta of 1.36. The company has a current ratio of 4.05, a quick ratio of 3.30 and a debt-to-equity ratio of 0.61. The firm has a 50 day simple moving average of $26.10 and a two-hundred day simple moving average of $24.33.

Element Solutions (NYSE:ESI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The company 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 business's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. Sell-side analysts predict that Element Solutions will post 1.45 earnings per share for the current year.

Insider Buying and Selling at Element Solutions

In other Element Solutions news, EVP John Edward Capps sold 77,674 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $26.77, for a total value of $2,079,332.98. Following the transaction, the executive vice president directly owned 609,790 shares in the company, valued at approximately $16,324,078.30. This represents a 11.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Carey J. Dorman sold 40,725 shares of Element Solutions stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $26.66, for a total transaction of $1,085,728.50. Following the sale, the executive vice president owned 214,837 shares of the company's stock, valued at approximately $5,727,554.42. This trade represents a 15.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 460,399 shares of company stock valued at $12,376,561. Insiders own 6.90% of the company's stock.

Hedge Funds Weigh In On Element Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. Gates Capital Management Inc. increased its stake in Element Solutions by 101.9% in the first quarter. Gates Capital Management Inc. now owns 5,424,745 shares of the company's stock valued at $122,653,000 after purchasing an additional 2,738,250 shares during the last quarter. Vanguard Group Inc. grew its holdings in Element Solutions by 12.1% in the first quarter. Vanguard Group Inc. now owns 24,932,851 shares of the company's stock valued at $563,732,000 after purchasing an additional 2,688,056 shares during the period. Invesco Ltd. raised its stake in Element Solutions by 68.6% during the third quarter. Invesco Ltd. now owns 4,922,726 shares of the company's stock worth $123,905,000 after purchasing an additional 2,003,724 shares during the period. Scopus Asset Management L.P. boosted its holdings in shares of Element Solutions by 134.6% in the 2nd quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company's stock valued at $77,602,000 after purchasing an additional 1,965,691 shares during the last quarter. Finally, Ilex Capital Partners UK LLP increased its holdings in shares of Element Solutions by 61.7% during the 2nd quarter. Ilex Capital Partners UK LLP now owns 4,656,299 shares of the company's stock worth $105,465,000 after buying an additional 1,777,265 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company's stock.

Element Solutions Company Profile

(Get Free Report)

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.

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