ESAB Co. (NYSE:ESAB - Get Free Report) saw unusually-high trading volume on Friday . Approximately 733,280 shares traded hands during trading, an increase of 173% from the previous session's volume of 269,049 shares.The stock last traded at $107.33 and had previously closed at $123.18.
Analyst Ratings Changes
Several research analysts have weighed in on ESAB shares. Jefferies Financial Group began coverage on shares of ESAB in a research note on Thursday, December 12th. They issued a "buy" rating and a $160.00 price objective on the stock. JPMorgan Chase & Co. boosted 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 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 decreased their price target 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, UBS Group upgraded ESAB from a "neutral" rating to a "buy" rating and upped their price objective for the company from $123.00 to $147.00 in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $135.75.
Check Out Our Latest Report on ESAB
ESAB Stock Up 12.6 %
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 has a market cap of $7.13 billion, a price-to-earnings ratio of 27.22, a P/E/G ratio of 2.01 and a beta of 1.37. The firm has a 50-day moving average price of $120.79 and a 200 day moving average price of $120.24.
ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.13. The company had revenue of $633.20 million during 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%. Sell-side analysts predict that ESAB Co. will post 5.16 EPS for the current year.
ESAB Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Friday, April 4th. ESAB's payout ratio is presently 7.41%.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in ESAB. Price T Rowe Associates Inc. MD raised its stake in ESAB by 3.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,538,081 shares of the company's stock worth $904,118,000 after buying an additional 225,345 shares during the period. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 20,741 shares during the last quarter. JPMorgan Chase & Co. grew its position in ESAB by 15.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,202,568 shares of the company's stock worth $264,176,000 after purchasing an additional 302,453 shares in the last quarter. Invesco Ltd. grew its holdings in shares of 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 acquiring an additional 318,018 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of ESAB by 1.7% during the 4th quarter. Neuberger Berman Group LLC now owns 1,888,685 shares of the company's stock valued at $226,529,000 after purchasing an additional 31,248 shares during the last quarter. 91.13% of the stock is owned by institutional investors.
ESAB Company Profile
(
Get Free Report)
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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