Analysts Set ESAB Corporation (NYSE:ESAB) PT at $139.50

ESAB Corporation (NYSE:ESAB) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $139.00.

Several equities research analysts recently weighed in on ESAB shares. Stifel Nicolaus dropped their price target on ESAB from $141.00 to $137.00 and set a “buy” rating on the stock in a research report on Monday. Oppenheimer restated an “outperform” rating and set a $140.00 target price on shares of ESAB in a report on Tuesday, April 14th. DA Davidson started coverage on shares of ESAB in a research report on Monday, June 15th. They issued a “buy” rating and a $130.00 target price on the stock. Weiss Ratings lowered shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $130.00 target price (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st.

ESAB Stock Down 7.5%

Shares of NYSE ESAB opened at $83.01 on Friday. The firm has a fifty day simple moving average of $92.57 and a two-hundred day simple moving average of $104.98. ESAB has a 12 month low of $82.18 and a 12 month high of $137.42. The company has a current ratio of 2.97, a quick ratio of 2.26 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $5.05 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.65 and a beta of 1.17.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). ESAB had a net margin of 7.11% and a return on equity of 15.04%. The firm had revenue of $745.60 million for the quarter, compared to the consensus estimate of $706.74 million. During the same period in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. Equities analysts expect that ESAB will post 5.79 earnings per share for the current year.

ESAB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were paid a $0.12 dividend. This is a boost from ESAB’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, July 2nd. ESAB’s payout ratio is currently 14.20%.

Institutional Trading of ESAB

Institutional investors and hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. raised its holdings in shares of ESAB by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company’s stock valued at $894,457,000 after purchasing an additional 45,841 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in ESAB by 11.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company’s stock worth $653,864,000 after purchasing an additional 613,327 shares during the last quarter. Durable Capital Partners LP boosted its holdings in ESAB by 40.5% in the third quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock worth $217,430,000 after purchasing an additional 560,678 shares during the last quarter. Geode Capital Management LLC grew its position in ESAB by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,318,269 shares of the company’s stock worth $147,300,000 after purchasing an additional 16,466 shares during the period. Finally, Bessemer Group Inc. grew its position in ESAB by 16.3% in the 1st quarter. Bessemer Group Inc. now owns 1,225,702 shares of the company’s stock worth $118,475,000 after purchasing an additional 171,926 shares during the period. 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.