Shares of Elmet Group Co. (NASDAQ:ELMT – Get Free Report) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $16.93, but opened at $18.78. Elmet Group shares last traded at $18.38, with a volume of 138,972 shares changing hands.
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. Elmet Group’s quarterly revenue was up 35.2% on a year-over-year basis.
Analyst Ratings Changes
Several analysts have recently commented on the company. Weiss Ratings initiated coverage on Elmet Group in a research report on Monday, July 20th. They issued a “sell (e)” rating for the company. Cantor Fitzgerald started coverage on Elmet Group in a research report on Monday, May 18th. They set an “overweight” rating and a $20.00 price target on the stock. Wall Street Zen raised Elmet Group to a “hold” rating in a research note on Saturday, May 2nd. Roth Capital began coverage on shares of Elmet Group in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 price objective on the stock. Finally, Needham & Company LLC assumed coverage on shares of Elmet Group in a research report on Monday, May 18th. They issued a “buy” rating and a $21.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.50.
Elmet Group Trading Up 9.4%
The business has a fifty day moving average of $16.81. The company has a quick ratio of 0.66, a current ratio of 1.75 and a debt-to-equity ratio of 0.68. The company has a market cap of $555.08 million and a PE ratio of 80.49.
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.
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