SunTrust Banks Lowers Element Solutions (NYSE:ESI) Price Target to $10.00

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Element Solutions (NYSE:ESI) had its price objective lowered by SunTrust Banks from $11.00 to $10.00 in a research report report published on Friday, BenzingaRatingsTable reports. The firm currently has a hold rating on the stock.

ESI has been the subject of a number of other research reports. ValuEngine upgraded shares of Element Solutions from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Royal Bank of Canada began coverage on shares of Element Solutions in a research note on Wednesday, July 3rd. They issued an outperform rating and a $8.00 price target for the company. Barclays reiterated a hold rating and issued a $11.00 price target on shares of Element Solutions in a research note on Wednesday, August 7th. Finally, Zacks Investment Research cut shares of Element Solutions from a hold rating to a sell rating and set a $10.00 price target for the company. in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $9.10.

Shares of ESI opened at $9.82 on Friday. Element Solutions has a 12 month low of $8.55 and a 12 month high of $12.74. The firm has a fifty day simple moving average of $9.90 and a 200 day simple moving average of $10.14. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 70.14 and a beta of 2.13. The company has a current ratio of 2.74, a quick ratio of 2.14 and a debt-to-equity ratio of 0.68.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $456.70 million during the quarter, compared to analysts’ expectations of $468.94 million. Element Solutions had a negative net margin of 18.53% and a positive return on equity of 5.76%. The company’s quarterly revenue was down 9.0% on a year-over-year basis. As a group, research analysts predict that Element Solutions will post 0.85 earnings per share for the current fiscal year.

In related news, COO Scot Benson acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average cost of $9.37 per share, with a total value of $93,700.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Benjamin Gliklich acquired 7,500 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $9.54 per share, for a total transaction of $71,550.00. The disclosure for this purchase can be found here. 13.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. bought a new position in shares of Element Solutions in the second quarter valued at about $258,433,000. BlackRock Inc. bought a new position in shares of Element Solutions in the second quarter valued at about $171,908,000. Bares Capital Management Inc. bought a new position in shares of Element Solutions in the second quarter valued at about $169,281,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Element Solutions in the second quarter valued at about $152,598,000. Finally, Nomura Holdings Inc. bought a new position in Element Solutions during the second quarter worth about $50,586,000. 88.24% of the stock is currently owned by institutional investors.

Element Solutions Company Profile

Element Solutions Inc produces and sells specialty chemical products worldwide. The company operates through two segments, Electronics and Industrial & Specialty. The Electronics segment researches, formulates, and delivers specialty chemicals and materials for various types of electronics hardware products.

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