ESAB Co. (NYSE:ESAB) Receives $133.43 Average Target Price from Analysts

Shares of ESAB Co. (NYSE:ESAB - Get Free Report) have been given a consensus rating of "Hold" by the seven analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $133.43.

A number of equities research analysts recently issued reports on the company. Oppenheimer reissued an "outperform" rating and set a $144.00 price target (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on ESAB from $120.00 to $128.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of ESAB in a report on Thursday, December 12th. They issued a "buy" rating and a $160.00 price target on the stock. Loop Capital lifted their price objective on shares of ESAB from $105.00 to $120.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus cut shares of ESAB from a "buy" rating to a "hold" rating and lowered their price objective for the company from $138.00 to $130.00 in a research report on Monday, November 18th.

ESAB Trading Down 1.2 %

NYSE ESAB traded down $1.45 on Friday, hitting $120.67. 831,927 shares of the stock were exchanged, compared to its average volume of 258,311. ESAB has a 52-week low of $82.44 and a 52-week high of $135.97. The firm has a market capitalization of $7.29 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.25 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92. The stock has a fifty day moving average price of $123.64 and a two-hundred day moving average price of $107.30.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.12 by $0.13. The company had revenue of $673.00 million for the quarter, compared to the consensus estimate of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The firm's revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS. Research analysts forecast that ESAB will post 4.94 EPS for the current fiscal year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend is Tuesday, December 31st. ESAB's dividend payout ratio (DPR) is 7.49%.

Insider Transactions at ESAB

In other news, CFO Kevin J. Johnson sold 5,044 shares of the business's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $630,500.00. Following the completion of the transaction, the chief financial officer now directly owns 11,433 shares of the company's stock, valued at approximately $1,429,125. The trade was a 30.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rhonda L. Jordan sold 4,254 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total value of $531,877.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,418 shares of company stock valued at $8,431,773. Company insiders own 7.20% of the company's stock.

Institutional Trading of ESAB

Several hedge funds and other institutional investors have recently made changes to their positions in ESAB. Champlain Investment Partners LLC increased its position in ESAB by 33.5% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,081,639 shares of the company's stock valued at $114,989,000 after buying an additional 271,459 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of ESAB by 19.7% during the third quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company's stock valued at $123,353,000 after acquiring an additional 190,583 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of ESAB in the 3rd quarter valued at approximately $15,110,000. FMR LLC raised its position in shares of ESAB by 6.2% in the 3rd quarter. FMR LLC now owns 2,196,522 shares of the company's stock valued at $233,512,000 after purchasing an additional 127,714 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in ESAB in the 2nd quarter worth approximately $8,277,000. Hedge funds and other institutional investors own 91.13% of the company's stock.

About ESAB

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.