ESAB’s (ESAB) Buy Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group reissued their buy rating on shares of ESAB (NYSE:ESAB) in a research note published on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a $130.00 target price on the stock, down from their previous target price of $150.00.

A number of other research analysts also recently commented on ESAB. Wall Street Zen downgraded ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. JPMorgan Chase & Co. boosted their price target on shares of ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Oppenheimer increased their price objective on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Weiss Ratings cut shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Finally, Roth Mkm restated a “buy” rating and issued a $146.00 target price (down from $150.00) on shares of ESAB in a report on Tuesday, February 3rd. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.56.

ESAB Price Performance

NYSE:ESAB opened at $96.49 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $5.87 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.69 and a beta of 1.23. ESAB has a 12 month low of $89.41 and a 12 month high of $137.42. The business’s 50-day moving average is $115.74 and its 200 day moving average is $114.83.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Friday, February 20th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.01. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The company had revenue of $687.00 million during the quarter, compared to analyst estimates of $687.80 million. During the same period in the prior year, the company earned $1.28 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that ESAB will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

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

Insider Transactions at ESAB

In related news, CEO Shyam Kambeyanda sold 59,404 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 99,864 shares in the company, valued at $12,362,164.56. This trade represents a 37.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ESAB

Hedge funds and other institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its holdings in shares of 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 worth $894,457,000 after acquiring an additional 45,841 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in ESAB during the 4th quarter valued at about $322,000. Vident Advisory LLC grew its holdings in ESAB by 132.4% during the 4th quarter. Vident Advisory LLC now owns 4,879 shares of the company’s stock valued at $545,000 after purchasing an additional 2,780 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in ESAB by 2.2% in the 4th quarter. First Citizens Bank & Trust Co. now owns 8,335 shares of the company’s stock worth $931,000 after purchasing an additional 182 shares during the period. Finally, NewEdge Advisors LLC raised its position in ESAB by 118.0% in the 4th quarter. NewEdge Advisors LLC now owns 5,363 shares of the company’s stock worth $599,000 after purchasing an additional 2,903 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

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.