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

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

Other research analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Element Solutions from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded 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. 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, Royal Bank of Canada assumed 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $9.10.

Shares of NYSE ESI traded up $0.08 during midday trading on Friday, hitting $9.86. The company’s stock had a trading volume of 11,995 shares, compared to its average volume of 1,788,969. The business’s fifty day simple moving average is $9.85 and its two-hundred day simple moving average is $10.14. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.74 and a quick ratio of 2.14. Element Solutions has a 1 year low of $8.55 and a 1 year high of $12.74. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 70.21 and a beta of 2.13.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Element Solutions had a negative net margin of 18.53% and a positive return on equity of 5.76%. The business had revenue of $456.70 million during the quarter, compared to analyst estimates of $468.94 million. The company’s revenue was down 9.0% on a year-over-year basis. Analysts anticipate that Element Solutions will post 0.85 EPS for the current fiscal year.

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

Large investors have recently modified their holdings of the company. Symons Capital Management Inc. purchased a new stake in shares of Element Solutions during the 2nd quarter worth approximately $122,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Element Solutions during the 2nd quarter worth approximately $750,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Element Solutions during the 2nd quarter worth approximately $152,598,000. Bares Capital Management Inc. purchased a new stake in shares of Element Solutions during the 2nd quarter worth approximately $169,281,000. Finally, Impax Asset Management Group plc purchased a new stake in shares of Element Solutions during the 2nd quarter worth approximately $6,193,000. Institutional investors and hedge funds own 88.24% of the company’s stock.

About Element Solutions

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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