Lincoln Electric (NASDAQ:LECO) Cut to Hold at Wall Street Zen

Lincoln Electric (NASDAQ:LECO) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

LECO has been the subject of a number of other reports. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. DA Davidson assumed coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective on the stock. Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a research note on Friday, May 1st. Barclays upped their target price on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, Morgan Stanley lifted their price target on Lincoln Electric from $250.00 to $253.00 and gave the stock an “underweight” rating in a report on Friday. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $299.38.

Lincoln Electric Stock Performance

NASDAQ:LECO opened at $252.74 on Monday. The company has a market cap of $13.85 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.55 and a beta of 1.20. Lincoln Electric has a twelve month low of $216.22 and a twelve month high of $310.00. The company’s 50-day moving average price is $261.61 and its 200-day moving average price is $263.25. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.08. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. Lincoln Electric’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 EPS. On average, sell-side analysts forecast that Lincoln Electric will post 10.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On Lincoln Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its position in Lincoln Electric by 8.6% in the first quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock valued at $468,000 after buying an additional 197 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Lincoln Electric by 553.4% during the first quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock worth $215,000 after buying an additional 963 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Lincoln Electric by 8.9% during the first quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock valued at $68,582,000 after acquiring an additional 29,505 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Lincoln Electric by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company’s stock valued at $26,017,000 after acquiring an additional 10,961 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 255 shares during the period. Hedge funds and other institutional investors own 79.61% of the company’s stock.

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.