Analysts Set ESAB Corporation (NYSE:ESAB) PT at $142.89

Shares of ESAB Corporation (NYSE:ESAB) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $142.8889.

Several brokerages have recently weighed in on ESAB. Roth Capital began coverage on ESAB in a research report on Friday, September 5th. They set a “buy” rating and a $150.00 price target on the stock. Wall Street Zen cut ESAB from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “buy (b)” rating on shares of ESAB in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of ESAB from $125.00 to $138.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, Oppenheimer decreased their price objective on shares of ESAB from $144.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th.

Insider Activity at ESAB

In related news, insider Olivier Biebuyck sold 1,440 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $133.49, for a total value of $192,225.60. Following the transaction, the insider directly owned 14,989 shares in the company, valued at approximately $2,000,881.61. This represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rhonda L. Jordan sold 4,067 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $113.05, for a total transaction of $459,774.35. The disclosure for this sale can be found here. 7.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. grew its position in ESAB by 325.1% during the third quarter. Pacer Advisors Inc. now owns 7,520 shares of the company’s stock valued at $840,000 after acquiring an additional 5,751 shares during the last quarter. Hunter Perkins Capital Management LLC grew its position in ESAB by 15.8% during the third quarter. Hunter Perkins Capital Management LLC now owns 10,030 shares of the company’s stock valued at $1,121,000 after acquiring an additional 1,365 shares during the last quarter. Vontobel Holding Ltd. grew its position in ESAB by 11.6% during the third quarter. Vontobel Holding Ltd. now owns 9,472 shares of the company’s stock valued at $1,058,000 after acquiring an additional 988 shares during the last quarter. DAVENPORT & Co LLC grew its position in ESAB by 10.4% during the third quarter. DAVENPORT & Co LLC now owns 1,011,536 shares of the company’s stock valued at $113,029,000 after acquiring an additional 95,294 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in ESAB by 60.4% during the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $75,000 after acquiring an additional 252 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.

ESAB Trading Up 0.3%

Shares of ESAB opened at $121.97 on Thursday. The business’s 50-day moving average price is $114.02 and its 200-day moving average price is $119.53. ESAB has a twelve month low of $100.17 and a twelve month high of $135.97. The stock has a market cap of $7.40 billion, a PE ratio of 29.18, a P/E/G ratio of 2.67 and a beta of 1.23. The company has a quick ratio of 1.26, a current ratio of 1.95 and a debt-to-equity ratio of 0.50.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. ESAB had a return on equity of 16.32% and a net margin of 9.36%.The firm had revenue of $715.59 million for the quarter, compared to analysts’ expectations of $670.80 million. During the same period in the prior year, the business posted $1.32 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts forecast that ESAB will post 5.16 EPS for the current fiscal year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, October 3rd. ESAB’s dividend payout ratio is 9.57%.

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.