Stifel Nicolaus Lowers Lincoln Electric (NASDAQ:LECO) Price Target to $264.00

Lincoln Electric (NASDAQ:LECO) had its price target reduced by analysts at Stifel Nicolaus from $300.00 to $264.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 3.08% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut Lincoln Electric from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Jefferies Financial Group restated a “hold” rating and set a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. KeyCorp lifted their price target on shares of Lincoln Electric from $280.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Robert W. Baird set a $330.00 price target on shares of Lincoln Electric in a research report on Friday, February 13th. Finally, Morgan Stanley lifted their price target on shares of Lincoln Electric from $240.00 to $247.00 and gave the company an “underweight” rating in a research report on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $291.14.

Lincoln Electric Trading Up 0.7%

Shares of Lincoln Electric stock opened at $256.11 on Wednesday. The stock has a market cap of $14.04 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.58 and a beta of 1.28. The stock’s 50 day simple moving average is $269.80 and its 200-day simple moving average is $250.94. Lincoln Electric has a 1-year low of $169.69 and a 1-year high of $310.00. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.82 and a quick ratio of 1.16.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, February 12th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Lincoln Electric had a return on equity of 39.35% and a net margin of 12.30%.The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.57 EPS. Analysts predict that Lincoln Electric will post 9.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Lincoln Electric

Large investors have recently bought and sold shares of the business. Quent Capital LLC purchased a new position in Lincoln Electric in the third quarter valued at $27,000. Frazier Financial Advisors LLC increased its holdings in Lincoln Electric by 3,700.0% in the third quarter. Frazier Financial Advisors LLC now owns 114 shares of the industrial products company’s stock valued at $27,000 after buying an additional 111 shares during the last quarter. Elyxium Wealth LLC acquired a new position in Lincoln Electric in the fourth quarter valued at $27,000. Root Financial Partners LLC acquired a new position in Lincoln Electric in the third quarter valued at $31,000. Finally, Summit Securities Group LLC acquired a new position in Lincoln Electric in the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.