Elmet Group Co. (NASDAQ:ELMT) Receives Consensus Rating of “Moderate Buy” from Analysts

Elmet Group Co. (NASDAQ:ELMT) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $20.75.

Several equities research analysts have weighed in on ELMT shares. Needham & Company LLC assumed coverage on Elmet Group in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 price target on the stock. Weiss Ratings assumed coverage on Elmet Group in a research report on Monday, July 20th. They set a “sell (e)” rating for the company. Cantor Fitzgerald assumed coverage on Elmet Group in a report on Monday, May 18th. They issued an “overweight” rating and a $20.00 price target for the company. Zacks Research raised shares of Elmet Group to a “hold” rating in a research note on Tuesday, May 19th. Finally, Roth Capital initiated coverage on shares of Elmet Group in a research note on Monday, May 18th. They issued a “buy” rating and a $21.00 target price for the company.

Institutional Investors Weigh In On Elmet Group

Several hedge funds have recently modified their holdings of the company. California State Teachers Retirement System acquired a new stake in shares of Elmet Group during the 2nd quarter valued at about $53,000. AWM Investment Company Inc. acquired a new position in shares of Elmet Group during the 2nd quarter worth approximately $6,807,000. Finally, Wellington Management Group LLP acquired a new stake in Elmet Group in the 2nd quarter valued at $10,537,000.

Elmet Group Trading Down 7.9%

Shares of NASDAQ ELMT opened at $16.64 on Friday. The company’s 50 day simple moving average is $16.56. The firm has a market cap of $506.85 million and a PE ratio of 40.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 3.03. Elmet Group has a 12 month low of $12.48 and a 12 month high of $22.51.

Elmet Group (NASDAQ:ELMT) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.38. The business had revenue of $66.40 million during the quarter. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. Analysts forecast that Elmet Group will post 0.53 EPS for the current year.

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.