Canaccord Genuity Group Increases Elmet Group (NASDAQ:ELMT) Price Target to $21.00

Elmet Group (NASDAQ:ELMT) had its target price hoisted by analysts at Canaccord Genuity Group from $20.00 to $21.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 11.58% from the company’s current price.

Several other analysts have also recently weighed in on the company. Roth Capital started coverage on Elmet Group in a report on Monday, May 18th. They set a “buy” rating and a $21.00 price target on the stock. Needham & Company LLC started coverage on shares of Elmet Group in a report on Monday, May 18th. They set a “buy” rating and a $21.00 target price on the stock. Wall Street Zen upgraded shares of Elmet Group to a “hold” rating in a research report on Saturday, May 2nd. Zacks Research upgraded shares of Elmet Group to a “hold” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings initiated coverage on Elmet Group in a report on Monday, July 20th. They issued a “sell (e)” rating for the company. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.

Elmet Group Price Performance

Shares of Elmet Group stock opened at $18.82 on Monday. 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 firm has a market capitalization of $573.26 million and a P/E ratio of 81.83. The business’s 50-day moving average price is $16.80.

Elmet Group (NASDAQ:ELMT) last issued its earnings results on Thursday, August 13th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.38. The firm had revenue of $66.40 million during the quarter. The firm’s revenue was up 35.2% compared to the same quarter last year. On average, sell-side analysts expect that Elmet Group will post 0.53 earnings per share for the current year.

Hedge Funds Weigh In On Elmet Group

An institutional investor recently bought a new position in Elmet Group stock. AWM Investment Company Inc. purchased a new stake in Elmet Group Co. (NASDAQ:ELMT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 344,853 shares of the company’s stock, valued at approximately $6,807,000. AWM Investment Company Inc. owned approximately 1.15% of Elmet Group as of its most recent filing with the Securities and Exchange Commission.

Elmet Group Company Profile

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.