Lincoln Electric (NASDAQ:LECO) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Lincoln Electric (NASDAQ:LECO) had its price objective upped by research analysts at Stifel Nicolaus from $252.00 to $253.00 in a report released on Friday, MarketBeat reports. The firm currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective would suggest a potential downside of 2.18% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lincoln Electric in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Lincoln Electric from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Barclays boosted their price target on Lincoln Electric from $235.00 to $260.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Morgan Stanley cut their price objective on Lincoln Electric from $209.00 to $208.00 and set an “underweight” rating for the company in a research report on Monday, January 12th. Finally, Roth Mkm set a $285.00 target price on Lincoln Electric and gave the stock a “buy” rating in a research note on Friday, October 31st. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

Lincoln Electric Stock Performance

Shares of NASDAQ LECO opened at $258.64 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.07 and a current ratio of 1.71. The stock has a 50 day moving average price of $244.33 and a 200 day moving average price of $238.52. The stock has a market capitalization of $14.23 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 1.62 and a beta of 1.26. Lincoln Electric has a 52 week low of $161.11 and a 52 week high of $264.87.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, October 30th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.08. Lincoln Electric had a return on equity of 40.33% and a net margin of 12.56%.The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the business posted $2.14 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. Analysts predict that Lincoln Electric will post 9.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LECO. Victory Capital Management Inc. lifted its holdings in shares of Lincoln Electric by 4.1% during the third quarter. Victory Capital Management Inc. now owns 1,850,816 shares of the industrial products company’s stock worth $436,478,000 after buying an additional 72,826 shares in the last quarter. Norges Bank acquired a new stake in Lincoln Electric in the 2nd quarter worth about $354,063,000. JPMorgan Chase & Co. boosted its holdings in Lincoln Electric by 5.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,558,783 shares of the industrial products company’s stock valued at $323,167,000 after purchasing an additional 83,035 shares during the period. Invesco Ltd. grew its position in shares of Lincoln Electric by 31.8% during the 3rd quarter. Invesco Ltd. now owns 919,926 shares of the industrial products company’s stock worth $216,946,000 after purchasing an additional 221,853 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of Lincoln Electric by 24.6% during the third quarter. Boston Partners now owns 850,201 shares of the industrial products company’s stock worth $200,517,000 after purchasing an additional 167,773 shares during the period. 79.61% of the stock is owned by institutional investors and hedge funds.

About Lincoln Electric

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.