ESAB (NYSE:ESAB) Price Target Raised to $140.00

ESAB (NYSE:ESAB - Free Report) had its target price raised by JPMorgan Chase & Co. from $133.00 to $140.00 in a research report sent to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

ESAB has been the topic of a number of other research reports. Evercore ISI upgraded shares of ESAB from an "underperform" rating to an "inline" rating and cut their price target for the company from $122.00 to $120.00 in a report on Monday, February 24th. Stifel Nicolaus cut their target price on shares of ESAB from $131.00 to $125.00 and set a "hold" rating on the stock in a research note on Friday, February 21st. Finally, Jefferies Financial Group initiated coverage on ESAB in a research report on Thursday, December 12th. They issued a "buy" rating and a $160.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $134.14.

ESAB Price Performance

Shares of NYSE:ESAB traded down $1.59 on Tuesday, reaching $118.79. 443,348 shares of the company traded hands, compared to its average volume of 258,109. The stock has a market capitalization of $7.19 billion, a PE ratio of 27.50, a P/E/G ratio of 2.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. The company's 50 day moving average is $122.78 and its 200-day moving average is $118.80. ESAB has a fifty-two week low of $88.54 and a fifty-two week high of $135.97.

Remove Ads

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

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, April 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. ESAB's dividend payout ratio is 7.41%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of ESAB by 3.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,538,081 shares of the company's stock valued at $904,118,000 after buying an additional 225,345 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of ESAB by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 5,546,104 shares of the company's stock worth $665,200,000 after purchasing an additional 20,741 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of ESAB by 15.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,202,568 shares of the company's stock valued at $264,176,000 after purchasing an additional 302,453 shares in the last quarter. FMR LLC lifted its stake 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, Invesco Ltd. boosted its holdings in ESAB by 17.9% in the fourth quarter. Invesco Ltd. now owns 2,097,624 shares of the company's stock worth $251,589,000 after purchasing an additional 318,018 shares in the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Company Profile

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.