ESAB Co. (NYSE:ESAB) Receives Average Rating of "Moderate Buy" from Analysts

Shares of ESAB Co. (NYSE:ESAB - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $133.75.

Several equities analysts recently issued reports on ESAB shares. JPMorgan Chase & Co. lifted their price target on shares of ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and reduced their target price for the stock from $122.00 to $120.00 in a report on Monday, February 24th. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and raised their price target for the company from $123.00 to $147.00 in a report on Tuesday, April 1st. Finally, Stifel Nicolaus cut their price objective on ESAB from $125.00 to $109.00 and set a "hold" rating for the company in a research report on Monday, April 14th.

Institutional Trading of ESAB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of ESAB by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock worth $202,001,000 after buying an additional 337,983 shares during the period. SBI Securities Co. Ltd. acquired a new stake in ESAB during the 4th quarter worth $36,000. Advantage Alpha Capital Partners LP raised its position in shares of ESAB by 8.5% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 32,775 shares of the company's stock valued at $3,931,000 after acquiring an additional 2,571 shares during the last quarter. Atria Investments Inc lifted its stake in shares of ESAB by 30.1% in the 4th quarter. Atria Investments Inc now owns 9,279 shares of the company's stock valued at $1,113,000 after purchasing an additional 2,147 shares during the period. Finally, First Citizens Bank & Trust Co. bought a new position in shares of ESAB in the 4th quarter worth $254,000. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Stock Up 2.4 %

NYSE ESAB opened at $115.68 on Thursday. ESAB has a 1-year low of $88.54 and a 1-year high of $135.97. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The stock's 50 day moving average is $118.52 and its two-hundred day moving average is $120.81. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.01 and a beta of 1.37.

ESAB (NYSE:ESAB - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.13. The firm had revenue of $633.20 million for the quarter, compared to analysts' expectations of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. Equities analysts forecast that ESAB will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, April 4th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, April 4th. ESAB's dividend payout ratio (DPR) is presently 7.41%.

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.

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