Stifel Nicolaus Issues Positive Forecast for ESAB (NYSE:ESAB) Stock Price

ESAB (NYSE:ESAB) had its price objective lifted by Stifel Nicolaus from $126.00 to $141.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other research analysts also recently issued research reports about the stock. Evercore ISI upped their target price on shares of ESAB from $120.00 to $125.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. Robert W. Baird set a $143.00 price target on shares of ESAB in a report on Friday, May 2nd. Finally, UBS Group raised ESAB from a “neutral” rating to a “buy” rating and upped their price target for the company from $123.00 to $147.00 in a research note on Tuesday, April 1st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.89.

ESAB Stock Down 1.5%

NYSE:ESAB opened at $128.08 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.91 and a quick ratio of 1.24. ESAB has a 1-year low of $88.54 and a 1-year high of $135.97. The firm’s 50-day moving average price is $124.57 and its 200-day moving average price is $121.69. The company has a market capitalization of $7.76 billion, a PE ratio of 28.85, a P/E/G ratio of 3.17 and a beta of 1.26.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. ESAB had a return on equity of 16.98% and a net margin of 9.98%. The company had revenue of $678.14 million during the quarter, compared to the consensus estimate of $633.66 million. During the same quarter in the prior year, the company posted $1.20 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. On average, equities analysts predict that ESAB will post 5.16 EPS for the current fiscal year.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, July 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. This is an increase from ESAB’s previous quarterly dividend of $0.08. ESAB’s dividend payout ratio is currently 9.01%.

Insider Buying and Selling

In other news, insider Olivier Biebuyck sold 1,417 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $131.15, for a total value of $185,839.55. Following the completion of the transaction, the insider owned 14,989 shares of the company’s stock, valued at $1,965,807.35. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rhonda L. Jordan sold 1,500 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $126.42, for a total transaction of $189,630.00. The disclosure for this sale can be found here. 7.30% of the stock is owned by insiders.

Institutional Investors Weigh In On ESAB

A number of large investors have recently made changes to their positions in ESAB. Caitong International Asset Management Co. Ltd purchased a new stake in ESAB in the first quarter worth about $33,000. First Horizon Advisors Inc. grew its stake in ESAB by 204.8% during the 1st quarter. First Horizon Advisors Inc. now owns 320 shares of the company’s stock valued at $37,000 after acquiring an additional 215 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of ESAB by 706.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company’s stock worth $42,000 after purchasing an additional 318 shares during the period. Kapitalo Investimentos Ltda acquired a new position in ESAB in the 4th quarter worth about $47,000. Finally, Farther Finance Advisors LLC lifted its stake in ESAB by 1,128.9% during the first quarter. Farther Finance Advisors LLC now owns 467 shares of the company’s stock worth $56,000 after purchasing an additional 429 shares during the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

About ESAB

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.