ESAB (NYSE:ESAB) Upgraded by Wall Street Zen to “Buy” Rating

ESAB (NYSE:ESAB) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other analysts also recently issued reports on the company. Stifel Nicolaus raised ESAB from a “hold” rating to a “buy” rating and set a $141.00 target price on the stock in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on ESAB from $138.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Oppenheimer dropped their price objective on ESAB from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. UBS Group raised their target price on shares of ESAB from $147.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, Roth Capital began coverage on shares of ESAB in a report on Friday, September 5th. They set a “buy” rating and a $150.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.33.

ESAB Price Performance

NYSE ESAB opened at $114.36 on Friday. The firm’s 50 day moving average is $115.26 and its 200-day moving average is $120.15. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $6.94 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23. ESAB has a 12-month low of $100.17 and a 12-month high of $135.85.

ESAB (NYSE:ESAB) last released its earnings results on Wednesday, October 29th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. ESAB had a net margin of 8.70% and a return on equity of 15.93%. The business had revenue of $727.85 million during the quarter, compared to the consensus estimate of $663.57 million. During the same quarter last year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. Equities research analysts anticipate that ESAB will post 5.16 earnings per share for the current fiscal year.

Insider Transactions at ESAB

In other news, Director Rhonda L. Jordan sold 4,067 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESAB. Durable Capital Partners LP bought a new position in ESAB during the 1st quarter worth $114,067,000. Norges Bank bought a new position in ESAB during the second quarter worth about $83,814,000. Champlain Investment Partners LLC increased its position in ESAB by 42.0% during the first quarter. Champlain Investment Partners LLC now owns 1,929,099 shares of the company’s stock worth $224,740,000 after acquiring an additional 570,895 shares during the period. Cooke & Bieler LP raised its stake in ESAB by 64.3% in the 3rd quarter. Cooke & Bieler LP now owns 996,533 shares of the company’s stock worth $111,353,000 after purchasing an additional 390,104 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in ESAB in the 1st quarter valued at about $36,415,000. 91.13% of the stock is owned by institutional investors and hedge funds.

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.