ESAB Corporation (NYSE:ESAB) Receives $145.25 Consensus PT from Analysts

ESAB Corporation (NYSE:ESAB) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $145.25.

ESAB has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Roth Mkm restated a “buy” rating and issued a $146.00 target price (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. Oppenheimer boosted their price objective 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. Weiss Ratings downgraded ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Finally, Wall Street Zen raised shares of ESAB from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th.

Insider Activity at ESAB

In related 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 transaction of $7,353,621.16. Following the transaction, the chief executive officer directly owned 99,864 shares in the company, valued at approximately $12,362,164.56. The trade was a 37.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.30% of the company’s stock.

Institutional Trading of ESAB

Several hedge funds and other institutional investors have recently modified their holdings of ESAB. T. Rowe Price Investment Management Inc. boosted its stake in ESAB by 0.6% in the 4th 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 period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of ESAB during the fourth quarter worth $322,000. Vident Advisory LLC boosted its position in shares of ESAB by 132.4% in the fourth quarter. Vident Advisory LLC now owns 4,879 shares of the company’s stock valued at $545,000 after acquiring an additional 2,780 shares during the period. First Citizens Bank & Trust Co. grew its stake in shares of ESAB by 2.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 8,335 shares of the company’s stock valued at $931,000 after acquiring an additional 182 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in ESAB by 118.0% during the fourth quarter. NewEdge Advisors LLC now owns 5,363 shares of the company’s stock worth $599,000 after acquiring an additional 2,903 shares during the period. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Up 1.1%

ESAB stock opened at $99.42 on Friday. The firm has a market cap of $6.04 billion, a PE ratio of 26.87, a PEG ratio of 1.81 and a beta of 1.23. The company has a fifty day simple moving average of $120.64 and a 200 day simple moving average of $116.20. ESAB has a 1 year low of $96.47 and a 1 year high of $137.42. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.56.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Friday, February 20th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. The company had revenue of $687.00 million for the quarter, compared to the consensus estimate of $687.80 million. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $1.28 earnings per share. Sell-side analysts anticipate that ESAB will post 5.16 EPS for the current fiscal year.

ESAB Announces Dividend

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

About ESAB

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.