ESAB Co. (NYSE:ESAB – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $80.00.
ESAB has been the topic of several recent research reports. Stifel Nicolaus upped their price target on shares of ESAB from $75.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, July 19th. JPMorgan Chase & Co. upped their target price on ESAB from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Bank of America upgraded ESAB from a “neutral” rating to a “buy” rating and lifted their price target for the company from $61.00 to $89.00 in a report on Monday, September 18th. Robert W. Baird increased their price objective on shares of ESAB from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Finally, UBS Group started coverage on shares of ESAB in a research report on Wednesday, September 27th. They set a “neutral” rating and a $78.00 price target for the company.
Institutional Trading of ESAB
Several hedge funds and other institutional investors have recently modified their holdings of the business. Huntington National Bank bought a new stake in ESAB during the second quarter worth approximately $28,000. Raleigh Capital Management Inc. bought a new stake in ESAB during the 2nd quarter valued at approximately $44,000. Bessemer Group Inc. acquired a new position in ESAB during the 2nd quarter valued at $54,000. Quantbot Technologies LP bought a new position in shares of ESAB during the 2nd quarter worth about $46,000. Finally, Covestor Ltd raised its position in shares of ESAB by 28,250.0% during the third quarter. Covestor Ltd now owns 1,134 shares of the company’s stock valued at $79,000 after buying an additional 1,130 shares during the last quarter. Institutional investors and hedge funds own 91.56% of the company’s stock.
ESAB Stock Up 0.2 %
ESAB stock opened at $79.43 on Thursday. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 1.65 and a beta of 1.38. The company has a current ratio of 1.69, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average of $69.67 and a two-hundred day moving average of $67.13. ESAB has a twelve month low of $42.60 and a twelve month high of $80.56.
ESAB (NYSE:ESAB – Get Free Report) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.16. ESAB had a net margin of 7.85% and a return on equity of 18.02%. The firm had revenue of $681.10 million during the quarter, compared to analysts’ expectations of $628.17 million. During the same period in the prior year, the company posted $0.92 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts expect that ESAB will post 4.36 earnings per share for the current year.
ESAB Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.24 annualized dividend and a dividend yield of 0.30%. ESAB’s payout ratio is 6.80%.
ESAB Company Profile
ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, and automated welding; and control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.
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