Elmet Group Co. (NASDAQ:ELMT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Elmet Group Co. (NASDAQ:ELMT) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $20.75.

ELMT has been the subject of a number of analyst reports. Needham & Company LLC started coverage on shares of Elmet Group in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 target price for the company. Weiss Ratings assumed coverage on Elmet Group in a report on Monday, July 20th. They set a “sell (e)” rating for the company. Zacks Research upgraded Elmet Group to a “hold” rating in a research note on Tuesday, May 19th. Wall Street Zen raised Elmet Group to a “hold” rating in a research report on Saturday, May 2nd. Finally, Cantor Fitzgerald began coverage on Elmet Group in a report on Monday, May 18th. They issued an “overweight” rating and a $20.00 price target for the company.

Institutional Trading of Elmet Group

Large investors have recently bought and sold shares of the stock. AWM Investment Company Inc. acquired a new position in Elmet Group during the 2nd quarter valued at approximately $6,807,000. Wellington Management Group LLP acquired a new position in shares of Elmet Group in the 2nd quarter valued at $10,537,000. Finally, California State Teachers Retirement System purchased a new position in Elmet Group in the 2nd quarter worth $53,000.

Elmet Group Price Performance

Shares of ELMT stock opened at $16.64 on Friday. The company’s 50-day moving average is $16.56. Elmet Group has a 1-year low of $12.48 and a 1-year high of $22.51. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 3.03. The company has a market capitalization of $506.85 million and a P/E ratio of 40.59.

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

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.