Elmet Group (NASDAQ:ELMT) Price Target Raised to $21.00

Elmet Group (NASDAQ:ELMT) had its price target lifted by Canaccord Genuity Group from $20.00 to $21.00 in a report released on Monday morning, MarketBeat.com reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research firms have also issued reports on ELMT. Wall Street Zen upgraded Elmet Group to a “hold” rating in a research note on Saturday, May 2nd. Zacks Research upgraded Elmet Group to a “hold” rating in a research note on Tuesday, May 19th. Needham & Company LLC started coverage on Elmet Group in a report on Monday, May 18th. They set a “buy” rating and a $21.00 target price on the stock. Weiss Ratings initiated coverage on Elmet Group in a research note on Monday, July 20th. They issued a “sell (e)” rating on the stock. Finally, Cantor Fitzgerald began coverage on Elmet Group in a report on Monday, May 18th. They set an “overweight” rating and a $20.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.75.

Elmet Group Price Performance

Elmet Group stock opened at $17.19 on Monday. The company has a quick ratio of 1.60, a current ratio of 3.03 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $16.79. The firm has a market cap of $523.61 million and a price-to-earnings ratio of 41.93. Elmet Group has a fifty-two week low of $12.48 and a fifty-two week high of $22.51.

Elmet Group (NASDAQ:ELMT) last issued its earnings results on Thursday, August 13th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.38. The firm had revenue of $66.40 million during the quarter. Elmet Group’s quarterly revenue was up 35.2% compared to the same quarter last year. As a group, analysts expect that Elmet Group will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Elmet Group

A hedge fund recently bought a new position in Elmet Group stock. AWM Investment Company Inc. purchased a new position in shares of Elmet Group Co. (NASDAQ:ELMT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 344,853 shares of the company’s stock, valued at approximately $6,807,000. AWM Investment Company Inc. owned approximately 1.15% of Elmet Group at the end of the most recent reporting period.

Elmet Group Company Profile

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.