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

ESAB Co. (NYSE:ESABGet Free Report) has received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $96.29.

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

Get Our Latest Research Report on ESAB

Insider Buying and Selling at ESAB

In other news, Director Rajiv Vinnakota sold 856 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $99.50, for a total value of $85,172.00. Following the completion of the sale, the director now directly owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of ESAB

Institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. lifted its stake in shares of ESAB by 302.6% in the 1st quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after acquiring an additional 236 shares during the period. ORG Partners LLC acquired a new stake in ESAB during the first quarter valued at approximately $35,000. Nomura Asset Management Co. Ltd. lifted its stake in ESAB by 57.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock valued at $36,000 after purchasing an additional 154 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in ESAB during the fourth quarter valued at approximately $39,000. Finally, Huntington National Bank lifted its stake in ESAB by 55.5% during the third quarter. Huntington National Bank now owns 647 shares of the company’s stock valued at $45,000 after purchasing an additional 231 shares during the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Price Performance

ESAB opened at $102.82 on Monday. The company has a 50-day moving average of $107.64 and a 200-day moving average of $95.23. The company has a market capitalization of $6.21 billion, a P/E ratio of 26.92, a PEG ratio of 1.82 and a beta of 1.55. ESAB has a 1-year low of $57.53 and a 1-year high of $114.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.65.

ESAB (NYSE:ESABGet Free Report) last released its 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. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The company had revenue of $690.00 million during the quarter, compared to the consensus estimate of $653.93 million. During the same quarter in the previous year, the firm earned $1.04 EPS. The company’s revenue was up .9% on a year-over-year basis. Equities analysts expect that ESAB will post 4.93 EPS for the current fiscal year.

ESAB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.31%. This is a positive change from ESAB’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, June 28th. ESAB’s payout ratio is presently 6.28%.

ESAB Company Profile

(Get Free Report

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.

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Analyst Recommendations for ESAB (NYSE:ESAB)

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