Stifel Nicolaus Lowers ESAB (NYSE:ESAB) Price Target to $138.00

ESAB (NYSE:ESAB) had its price objective lowered by analysts at Stifel Nicolaus from $158.00 to $138.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 34.84% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Wall Street Zen cut shares of ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. JPMorgan Chase & Co. upped their price target on shares of ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Roth Mkm reaffirmed a “buy” rating and set a $146.00 price target (down from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. Weiss Ratings cut shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Finally, Oppenheimer upped their price target on shares of ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, ESAB currently has an average rating of “Moderate Buy” and a consensus target price of $141.33.

ESAB Stock Down 0.6%

Shares of NYSE ESAB opened at $102.34 on Wednesday. ESAB has a 52-week low of $89.41 and a 52-week high of $137.42. The firm has a fifty day moving average of $112.86 and a 200-day moving average of $114.26. The stock has a market capitalization of $6.23 billion, a PE ratio of 27.66, a P/E/G ratio of 1.91 and a beta of 1.36. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.56.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Friday, February 20th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.01. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The company had revenue of $687.00 million during the quarter, compared to analysts’ expectations of $687.80 million. During the same period in the previous year, the company earned $1.28 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts anticipate that ESAB will post 5.16 EPS for the current year.

Insider Buying and Selling

In other ESAB news, CEO Shyam Kambeyanda sold 59,404 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total value of $7,353,621.16. Following the transaction, the chief executive officer owned 99,864 shares in the company, valued at $12,362,164.56. The trade was a 37.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ESAB

A number of institutional investors have recently added to or reduced their stakes in ESAB. FNY Investment Advisers LLC acquired a new stake in shares of ESAB in the 3rd quarter valued at about $30,000. Los Angeles Capital Management LLC acquired a new stake in shares of ESAB in the 4th quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after purchasing an additional 174 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of ESAB by 259.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of ESAB by 3,023.1% in the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after purchasing an additional 393 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Company Profile

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.