Element Solutions (NYSE:ESI) Given New $24.00 Price Target at The Goldman Sachs Group

Element Solutions (NYSE:ESI) had its price target dropped by The Goldman Sachs Group from $30.00 to $24.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 18.31% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. BMO Capital Markets reduced their price target on shares of Element Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Bank of America raised Element Solutions from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $29.00 to $24.00 in a report on Tuesday, April 15th. StockNews.com cut Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. UBS Group reduced their price objective on Element Solutions from $31.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Barclays lowered their target price on shares of Element Solutions from $30.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Element Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $26.38.

Element Solutions Trading Up 1.2 %

Element Solutions stock opened at $20.29 on Monday. Element Solutions has a 12 month low of $16.77 and a 12 month high of $29.78. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The business’s fifty day simple moving average is $22.55 and its two-hundred day simple moving average is $25.20. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $593.70 million for the quarter, compared to analysts’ expectations of $576.73 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. Element Solutions’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, equities analysts predict that Element Solutions will post 1.45 earnings per share for the current fiscal year.

Insider Activity at Element Solutions

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of Element Solutions stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the transaction, the director now owns 109,100 shares of the company’s stock, valued at $2,847,510. The trade was a 94.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.90% of the stock is currently owned by company insiders.

Institutional Trading of Element Solutions

Several institutional investors and hedge funds have recently modified their holdings of the company. Park Avenue Securities LLC increased its stake in Element Solutions by 79.0% in the 4th quarter. Park Avenue Securities LLC now owns 60,612 shares of the company’s stock worth $1,541,000 after buying an additional 26,753 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Element Solutions in the fourth quarter worth $423,000. Charles Schwab Investment Management Inc. grew its stake in Element Solutions by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,328,894 shares of the company’s stock valued at $59,224,000 after acquiring an additional 29,253 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Element Solutions by 18.6% in the 4th quarter. Principal Financial Group Inc. now owns 74,709 shares of the company’s stock valued at $1,900,000 after acquiring an additional 11,702 shares during the last quarter. Finally, Boston Partners purchased a new stake in Element Solutions in the 4th quarter worth $24,169,000. 92.32% of the stock is currently owned by institutional investors.

About Element Solutions

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.