ESAB (NYSE:ESAB) Given New $135.00 Price Target at Oppenheimer

ESAB (NYSE:ESAB) had its price target cut by Oppenheimer from $140.00 to $135.00 in a research report report published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently weighed in on ESAB. Stifel Nicolaus decreased their price target on ESAB from $141.00 to $137.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. cut their price objective on ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. DA Davidson assumed coverage on shares of ESAB in a research report on Monday, June 15th. They issued a “buy” rating and a $130.00 price target on the stock. Roth Capital upped their price objective on ESAB from $142.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings cut shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.38.

ESAB Stock Performance

Shares of ESAB opened at $86.05 on Tuesday. 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 company has a 50-day moving average of $92.41 and a two-hundred day moving average of $104.80. The stock has a market cap of $5.24 billion, a P/E ratio of 25.46, a PEG ratio of 1.54 and a beta of 1.17.

ESAB (NYSE:ESAB) last announced its earnings results on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). ESAB had a net margin of 7.11% and a return on equity of 15.04%. The company had revenue of $745.60 million for the quarter, compared to analyst estimates of $706.74 million. During the same quarter last year, the company posted $1.25 EPS. ESAB’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, research analysts predict that ESAB will post 5.75 EPS for the current fiscal year.

ESAB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, July 2nd. This is a positive change from ESAB’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. ESAB’s payout ratio is 14.20%.

Hedge Funds Weigh In On ESAB

Institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in shares of ESAB during the fourth quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. lifted its position in ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after buying an additional 174 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in ESAB by 259.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after buying an additional 275 shares in the last quarter. Global Retirement Partners LLC boosted its position in ESAB by 3,023.1% during the fourth quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after purchasing an additional 393 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of ESAB by 185.3% in the 4th quarter. UMB Bank n.a. now owns 642 shares of the company’s stock valued at $72,000 after buying an additional 417 shares in the last quarter. 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.