ESAB Co. (NYSE:ESAB) Given Consensus Rating of “Moderate Buy” by Brokerages

ESAB Co. (NYSE:ESAB) 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.

Insider Activity

In other ESAB news, insider Olivier Biebuyck sold 535 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $72.09, for a total transaction of $38,568.15. Following the completion of the sale, the insider now owns 6,441 shares in the company, valued at $464,331.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Olivier Biebuyck sold 535 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $72.09, for a total transaction of $38,568.15. Following the completion of the transaction, the insider now owns 6,441 shares of the company’s stock, valued at $464,331.69. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rhonda L. Jordan sold 539 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $72.39, for a total transaction of $39,018.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,624 shares of company stock worth $192,852. 7.00% of the stock is currently owned by insiders.

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) 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.