ESAB Co. (NYSE:ESAB) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of ESAB Co. (NYSE:ESAB) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $93.75.

A number of brokerages have recently issued reports on ESAB. JPMorgan Chase & Co. upgraded shares of ESAB from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $111.00 to $125.00 in a research note on Monday, March 18th. Stifel Nicolaus boosted their target price on ESAB from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Evercore ISI raised their price target on ESAB from $93.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday, March 5th.

Insider Buying and Selling

In other news, Director Christopher M. Hix sold 7,465 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the completion of the transaction, the director now owns 33,863 shares in the company, valued at $3,361,918.64. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Didier P. Teirlinck sold 2,512 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $99.00, for a total value of $248,688.00. Following the sale, the director now directly owns 33,863 shares in the company, valued at $3,352,437. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher M. Hix sold 7,465 shares of ESAB stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the transaction, the director now owns 33,863 shares of the company’s stock, valued at $3,361,918.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,833 shares of company stock valued at $1,074,985. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On ESAB

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in ESAB by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,578,527 shares of the company’s stock worth $391,724,000 after purchasing an additional 63,948 shares in the last quarter. FMR LLC raised its position in shares of ESAB by 24.3% in the third quarter. FMR LLC now owns 2,892,015 shares of the company’s stock valued at $203,077,000 after buying an additional 566,224 shares during the last quarter. Invesco Ltd. boosted its position in ESAB by 25.1% during the third quarter. Invesco Ltd. now owns 1,376,699 shares of the company’s stock worth $96,672,000 after acquiring an additional 276,558 shares during the last quarter. DAVENPORT & Co LLC grew its stake in ESAB by 5.5% in the 1st quarter. DAVENPORT & Co LLC now owns 811,679 shares of the company’s stock worth $89,422,000 after acquiring an additional 42,099 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in ESAB by 0.3% in the 4th quarter. Eagle Asset Management Inc. now owns 562,488 shares of the company’s stock valued at $48,723,000 after acquiring an additional 1,513 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Stock Down 0.6 %

ESAB opened at $109.39 on Thursday. The business has a 50 day moving average price of $105.99 and a two-hundred day moving average price of $90.97. ESAB has a 52 week low of $57.53 and a 52 week high of $114.77. The company has a market cap of $6.61 billion, a PE ratio of 28.64, a P/E/G ratio of 2.10 and a beta of 1.55. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.59.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.09. The firm had revenue of $690.00 million during the quarter, compared to the consensus estimate of $653.93 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the company earned $1.04 earnings per share. As a group, research analysts anticipate that ESAB will post 4.91 EPS for the current year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.22%. The ex-dividend date was Wednesday, March 27th. ESAB’s payout ratio is currently 6.28%.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas 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.