ESAB (NYSE:ESAB) Lowered to “Hold” Rating by Wall Street Zen

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

Several other equities research analysts have also issued reports on ESAB. Roth Capital started coverage on ESAB in a report on Friday, September 5th. They set a “buy” rating and a $150.00 price target for the company. Stifel Nicolaus raised their target price on shares of ESAB from $141.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings restated a “hold (c+)” rating on shares of ESAB in a research note on Monday, December 22nd. UBS Group raised their price objective on ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. lifted their price objective on ESAB from $138.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, ESAB currently has a consensus rating of “Moderate Buy” and an average price target of $141.50.

ESAB Trading Down 0.1%

NYSE:ESAB opened at $114.10 on Friday. The stock has a market cap of $6.93 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. ESAB has a fifty-two week low of $100.17 and a fifty-two week high of $135.84. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24. The stock’s 50-day moving average is $113.61 and its two-hundred day moving average is $117.15.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.05. ESAB had a net margin of 8.70% and a return on equity of 15.93%. The firm had revenue of $727.85 million for the quarter, compared to analyst estimates of $663.57 million. During the same quarter in the prior year, the business earned $1.25 EPS. The company’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. As a group, equities research analysts forecast that ESAB will post 5.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of ESAB by 3.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,693 shares of the company’s stock worth $325,000 after acquiring an additional 81 shares during the last quarter. Thrivent Financial for Lutherans increased its position in ESAB by 0.7% in the second quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock worth $1,617,000 after purchasing an additional 95 shares during the period. Louisiana State Employees Retirement System lifted its position in ESAB by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the company’s stock valued at $1,929,000 after purchasing an additional 100 shares during the period. State of Michigan Retirement System lifted its position in ESAB by 0.7% during the 2nd quarter. State of Michigan Retirement System now owns 13,702 shares of the company’s stock valued at $1,652,000 after purchasing an additional 100 shares during the period. Finally, Xponance Inc. boosted its stake in shares of ESAB by 1.6% in the 3rd quarter. Xponance Inc. now owns 6,488 shares of the company’s stock valued at $725,000 after purchasing an additional 102 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.

About ESAB

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.