Elementis (LON:ELM) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of Elementis plc (LON:ELM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 159.90 and traded as high as GBX 172. Elementis shares last traded at GBX 170.07, with a volume of 606,726 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on Elementis from GBX 200 to GBX 215 and gave the company a “buy” rating in a report on Friday, July 31st. Berenberg Bank boosted their target price on Elementis from GBX 195 to GBX 220 and gave the stock a “buy” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Elementis from GBX 186 to GBX 190 and gave the company a “neutral” rating in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 210 price target on shares of Elementis in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 205.

Elementis Stock Up 1.5%

The company has a quick ratio of 1.16, a current ratio of 2.27 and a debt-to-equity ratio of 39.91. The company has a market cap of £962.21 million, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 3.05 and a beta of 0.93. The company has a fifty day moving average of GBX 173 and a 200 day moving average of GBX 159.89.

Elementis (LON:ELM) last posted its earnings results on Thursday, July 30th. The company reported GBX 8.60 earnings per share for the quarter. Elementis had a return on equity of 11.29% and a net margin of 12.16%. On average, research analysts anticipate that Elementis plc will post 9.4993582 earnings per share for the current fiscal year.

Elementis announced that its board has approved a stock buyback plan on Wednesday, June 3rd that allows the company to buyback 0 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are 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.