Brokerages Set Elmet Group Co. (NASDAQ:ELMT) PT at $20.75

Shares of Elmet Group Co. (NASDAQ:ELMT) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $20.75.

Several equities analysts have commented on the stock. Canaccord Genuity Group upped their price objective on shares of Elmet Group from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 17th. Needham & Company LLC started coverage on shares of Elmet Group in a research note on Monday, May 18th. They set a “buy” rating and a $21.00 target price for the company. Cantor Fitzgerald began coverage on shares of Elmet Group in a research note on Monday, May 18th. They issued an “overweight” rating and a $20.00 price target on the stock. Zacks Research upgraded shares of Elmet Group to a “hold” rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings assumed coverage on shares of Elmet Group in a report on Monday, July 20th. They issued a “sell (e)” rating on the stock.

Hedge Funds Weigh In On Elmet Group

A number of large investors have recently made changes to their positions in ELMT. California State Teachers Retirement System bought a new stake in Elmet Group in the 2nd quarter valued at $53,000. AWM Investment Company Inc. acquired a new position in Elmet Group in the 2nd quarter valued at $6,807,000. Finally, Wellington Management Group LLP bought a new position in Elmet Group during the 2nd quarter worth $10,537,000.

Elmet Group Trading Up 0.6%

Shares of NASDAQ ELMT opened at $15.86 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.03 and a quick ratio of 1.60. Elmet Group has a 12 month low of $12.48 and a 12 month high of $22.51. The business’s 50 day simple moving average is $16.42. The company has a market cap of $483.08 million and a P/E ratio of 38.68.

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