ESAB (NYSE:ESAB) Receives Outperform Rating from Oppenheimer

ESAB (NYSE:ESAB - Get Free Report)'s stock had its "outperform" rating reissued by investment analysts at Oppenheimer in a research report issued on Friday,Benzinga reports. They currently have a $144.00 price objective on the stock, up from their previous price objective of $138.00. Oppenheimer's target price indicates a potential upside of 9.74% from the stock's previous close.

A number of other analysts also recently weighed in on the stock. Loop Capital increased their target price on shares of ESAB from $105.00 to $120.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Evercore ISI decreased their price target on ESAB from $107.00 to $102.00 and set an "in-line" rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on ESAB from $120.00 to $128.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Bank of America upped their target price on ESAB from $115.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Finally, Stifel Nicolaus lowered their target price on ESAB from $130.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $119.86.

ESAB Trading Down 0.9 %

NYSE ESAB traded down $1.16 on Friday, hitting $131.22. The company's stock had a trading volume of 258,279 shares, compared to its average volume of 252,141. The company's 50-day moving average is $108.11 and its 200 day moving average is $102.79. The firm has a market cap of $7.93 billion, a PE ratio of 31.33, a PEG ratio of 2.09 and a beta of 1.37. ESAB has a 1-year low of $75.24 and a 1-year high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58.

ESAB (NYSE:ESAB - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The business had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. During the same period last year, the company earned $1.08 EPS. ESAB's revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, analysts predict that ESAB will post 4.94 earnings per share for the current fiscal year.

Insider Buying and Selling at ESAB

In other ESAB news, Director Rhonda L. Jordan sold 4,254 shares of the company's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total transaction of $531,877.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Rhonda L. Jordan sold 4,254 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin J. Johnson sold 5,044 shares of the company's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $630,500.00. Following the sale, the chief financial officer now owns 11,433 shares of the company's stock, valued at $1,429,125. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,418 shares of company stock valued at $8,431,773. Company insiders own 7.00% of the company's stock.

Institutional Investors Weigh In On ESAB

Large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. bought a new stake in shares of ESAB during the 2nd quarter valued at $42,000. GAMMA Investing LLC increased its position in shares of ESAB by 55.9% during the third quarter. GAMMA Investing LLC now owns 410 shares of the company's stock valued at $44,000 after buying an additional 147 shares during the period. Blue Trust Inc. lifted its holdings in shares of ESAB by 629.8% in the third quarter. Blue Trust Inc. now owns 613 shares of the company's stock worth $65,000 after buying an additional 529 shares in the last quarter. Quest Partners LLC grew its stake in ESAB by 12,140.0% during the third quarter. Quest Partners LLC now owns 612 shares of the company's stock valued at $65,000 after acquiring an additional 607 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in ESAB during the 2nd quarter worth approximately $92,000. 91.13% of the stock is owned by hedge funds and other institutional investors.

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.