Elmet Group (NASDAQ:ELMT – Free Report) had its price target hoisted by Cantor Fitzgerald from $20.00 to $30.00 in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the stock.
Other equities analysts also recently issued reports about the company. Roth Capital restated a “buy” rating and issued a $26.00 price objective (up from $21.00) on shares of Elmet Group in a research report on Tuesday, September 15th. Weiss Ratings upgraded Elmet Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. Needham & Company LLC lifted their target price on Elmet Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 8th. Finally, Canaccord Genuity Group boosted their price target on Elmet Group from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Elmet Group has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.
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Elmet Group Stock Performance
NASDAQ ELMT opened at $21.74 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 3.03. Elmet Group has a 12 month low of $12.48 and a 12 month high of $25.03. The company has a market cap of $662.20 million and a PE ratio of 53.02. The business’s 50 day moving average price is $19.20.
Elmet Group (NASDAQ:ELMT – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.38. The firm had revenue of $66.40 million during the quarter. Elmet Group’s revenue for the quarter was up 35.2% compared to the same quarter last year. Sell-side analysts forecast that Elmet Group will post 0.72 EPS for the current year.
Institutional Investors Weigh In On Elmet Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bangor Savings Bank bought a new stake in shares of Elmet Group in the 3rd quarter valued at approximately $48,741,000. Wellington Management Group LLP bought a new position in shares of Elmet Group during the 2nd quarter valued at approximately $10,537,000. AWM Investment Company Inc. bought a new position in shares of Elmet Group during the 2nd quarter valued at approximately $6,807,000. State Street Corp purchased a new stake in Elmet Group during the 2nd quarter valued at $2,640,000. Finally, Squarepoint Ops LLC purchased a new stake in Elmet Group during the 2nd quarter valued at $2,560,000.
About Elmet Group
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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