ESAB (NYSE:ESAB) Price Target Cut to $142.00 by Analysts at DA Davidson

ESAB (NYSE:ESAB) had its price target reduced by DA Davidson from $146.00 to $142.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on ESAB. Roth Mkm set a $142.00 target price on ESAB in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and issued a $140.00 target price on shares of ESAB in a research note on Tuesday. Stifel Nicolaus lowered their target price on ESAB from $158.00 to $138.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Wall Street Zen downgraded ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, JPMorgan Chase & Co. lowered their target price on ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $138.40.

ESAB Trading Down 2.6%

NYSE ESAB opened at $98.81 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.17 and a current ratio of 1.90. The firm has a market cap of $6.02 billion, a PE ratio of 26.70, a P/E/G ratio of 1.88 and a beta of 1.36. ESAB has a one year low of $89.41 and a one year high of $137.42. The firm’s fifty day moving average is $110.83 and its two-hundred day moving average is $113.98.

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

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Thursday, April 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, April 2nd. ESAB’s payout ratio is currently 10.81%.

Insiders Place Their Bets

In other ESAB news, CEO Shyam Kambeyanda sold 59,404 shares of ESAB stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $123.79, for a total value of $7,353,621.16. Following the sale, the chief executive officer owned 99,864 shares of the company’s stock, valued at approximately $12,362,164.56. The trade was a 37.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On ESAB

A number of institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its stake in ESAB by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock valued at $1,617,000 after acquiring an additional 95 shares during the last quarter. Xponance Inc. grew its stake in 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 acquiring an additional 102 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of ESAB by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock valued at $2,191,000 after acquiring an additional 107 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of ESAB by 5.9% during the third quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock valued at $300,000 after acquiring an additional 149 shares during the last quarter. Finally, Lafayette Investments Inc. boosted its stake in shares of ESAB by 0.5% during the fourth quarter. Lafayette Investments Inc. now owns 34,266 shares of the company’s stock valued at $3,828,000 after acquiring an additional 161 shares during the last quarter. Hedge funds and other institutional investors 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.