Elementis (LON:ELM) Reaches New 1-Year High – Here’s What Happened

Elementis plc (LON:ELM)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as GBX 180.40 and last traded at GBX 177.80, with a volume of 1027923 shares trading hands. The stock had previously closed at GBX 172.56.

Wall Street Analysts Forecast Growth

ELM has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 210 target price on shares of Elementis in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 200 price objective on shares of Elementis in a research note on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Elementis currently has an average rating of “Moderate Buy” and an average price target of GBX 200.

Elementis Stock Performance

The firm has a 50-day simple moving average of GBX 156.77 and a two-hundred day simple moving average of GBX 157.45. The company has a current ratio of 1.90, a quick ratio of 1.16 and a debt-to-equity ratio of 39.85. The company has a market capitalization of £1.04 billion, a price-to-earnings ratio of -23.33, a price-to-earnings-growth ratio of 3.05 and a beta of 0.92.

Elementis announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 3rd that permits the company to repurchase 0 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Elementis Company Profile

Elementis is a global specialty chemicals company listed on the London Stock Exchange. The Group employs c.1,000 across 20 global locations. As recognised innovation leaders with deep expertise in rheology (the science of flow), and formulation solutions, we develop distinctive solutions and products to improve performance, achieve smoother production, and enhance sustainability credentials for customers across a range of industries. The Group also owns and operates the largest high-quality hectorite mine in the world.