UBS Group upgraded shares of ESAB (NYSE:ESAB - Free Report) from a neutral rating to a buy rating in a report released on Tuesday, Marketbeat Ratings reports. UBS Group currently has $147.00 price target on the stock, up from their prior price target of $123.00.
Other analysts also recently issued research reports about the company. Stifel Nicolaus lowered their price objective on ESAB from $131.00 to $125.00 and set a "hold" rating for the company in a research report on Friday, February 21st. Evercore ISI raised shares of ESAB from an "underperform" rating to an "inline" rating and dropped their price target for the company from $122.00 to $120.00 in a research report on Monday, February 24th. JPMorgan Chase & Co. upped their price target on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Finally, Jefferies Financial Group started coverage on ESAB in a research note on Thursday, December 12th. They set a "buy" rating and a $160.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, ESAB presently has an average rating of "Moderate Buy" and an average target price of $135.75.
View Our Latest Stock Report on ESAB
ESAB Price Performance
NYSE ESAB traded down $5.54 on Tuesday, reaching $107.25. 490,205 shares of the company's stock traded hands, compared to its average volume of 270,914. The stock has a market cap of $6.49 billion, a PE ratio of 24.83, a P/E/G ratio of 2.01 and a beta of 1.36. ESAB has a 12 month low of $88.54 and a 12 month high of $135.97. The stock has a 50-day simple moving average of $122.15 and a 200 day simple moving average of $120.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25.
ESAB (NYSE:ESAB - Get Free Report) last released 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 company had revenue of $633.20 million for the quarter, compared to analyst estimates of $636.43 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. As a group, research analysts predict that ESAB will post 5.16 earnings per share for the current year.
ESAB Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, April 4th. ESAB's payout ratio is 7.41%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted 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 valued at $904,118,000 after purchasing an additional 225,345 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of ESAB by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,546,104 shares of the company's stock valued at $665,200,000 after buying an additional 20,741 shares during the last quarter. JPMorgan Chase & Co. raised 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 buying an additional 302,453 shares during the last quarter. Invesco Ltd. lifted its stake in ESAB by 17.9% during the 4th 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 during the period. Finally, Neuberger Berman Group LLC boosted its holdings 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 acquiring an additional 31,248 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.
ESAB Company Profile
(
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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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