Elementis (LON:ELM) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Elementis plc (LON:ELM)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 158.90 and traded as high as GBX 187.60. Elementis shares last traded at GBX 179.10, with a volume of 48,930,566 shares changing hands.

Analysts Set New Price Targets

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

Elementis Stock Up 0.7%

The stock has a market capitalization of £1.02 billion, a P/E ratio of 14.22, a PEG ratio of 3.05 and a beta of 0.93. The firm’s 50-day simple moving average is GBX 166.28 and its 200 day simple moving average is GBX 159.01. The company has a debt-to-equity ratio of 39.91, a quick ratio of 1.16 and a current ratio of 2.27.

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

Elementis declared that its board has authorized a share buyback plan on Wednesday, June 3rd that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Elementis

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.