ESAB Co. (NYSE:ESAB - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $135.75.
A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Stifel Nicolaus cut their price target on ESAB from $131.00 to $125.00 and set a "hold" rating for the company in a research note on Friday, February 21st. Jefferies Financial Group began coverage on ESAB in a research note on Thursday, December 12th. They issued a "buy" rating and a $160.00 price objective for the company. Evercore ISI upgraded ESAB from an "underperform" rating to an "inline" rating and decreased their price target for the stock from $122.00 to $120.00 in a report on Monday, February 24th. Finally, UBS Group upgraded ESAB from a "neutral" rating to a "buy" rating and raised their price objective for the company from $123.00 to $147.00 in a research note on Tuesday.
Get Our Latest Research Report on ESAB
Institutional Investors Weigh In On ESAB
A number of hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in ESAB during the fourth quarter worth about $81,199,000. Raymond James Financial Inc. purchased a new stake in shares of ESAB in the fourth quarter worth about $52,281,000. TimesSquare Capital Management LLC grew its position in shares of ESAB by 104.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 839,685 shares of the company's stock valued at $100,712,000 after purchasing an additional 428,770 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of ESAB by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock valued at $202,001,000 after acquiring an additional 337,983 shares in the last quarter. Finally, Invesco Ltd. raised its stake in ESAB by 17.9% in the fourth quarter. Invesco Ltd. now owns 2,097,624 shares of the company's stock valued at $251,589,000 after purchasing an additional 318,018 shares in the last quarter. Institutional investors own 91.13% of the company's stock.
ESAB Stock Down 7.4 %
ESAB stock traded down $9.17 during trading on Friday, reaching $114.01. 159,173 shares of the stock were exchanged, compared to its average volume of 268,242. The firm's 50 day moving average is $122.36 and its 200 day moving average is $120.14. The firm has a market cap of $6.90 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. ESAB has a twelve month low of $88.54 and a twelve month high of $135.97.
ESAB (NYSE:ESAB - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The company had revenue of $633.20 million for the quarter, compared to analyst estimates of $636.43 million. As a group, research analysts forecast that ESAB will post 5.16 EPS for the current year.
ESAB Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 annualized dividend and a yield of 0.28%. ESAB's payout ratio is currently 7.41%.
About ESAB
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Get Free ReportESAB 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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