ESAB Co. (NYSE:ESAB - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $115.74 and last traded at $113.54, with a volume of 2201 shares trading hands. The stock had previously closed at $111.42.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on ESAB shares. Evercore ISI dropped their price target on shares of ESAB from $107.00 to $102.00 and set an "in-line" rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. upped their price objective on shares of ESAB from $120.00 to $128.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Bank of America upped their price objective on shares of ESAB from $115.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Stifel Nicolaus dropped their price objective on shares of ESAB from $130.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, July 18th. Finally, Oppenheimer raised their price objective on shares of ESAB from $115.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $116.17.
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ESAB Stock Performance
The stock's 50 day moving average price is $104.18 and its 200 day moving average price is $101.62. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 29.55, a P/E/G ratio of 1.93 and a beta of 1.42.
ESAB (NYSE:ESAB - Get Free Report) last issued its earnings results on Friday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.05. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The business had revenue of $707.10 million during the quarter, compared to analysts' expectations of $686.75 million. During the same quarter in the previous year, the business earned $1.21 EPS. The company's revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts expect that ESAB Co. will post 4.83 EPS for the current fiscal year.
ESAB Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Friday, September 27th. ESAB's dividend payout ratio is presently 7.80%.
Hedge Funds Weigh In On ESAB
Institutional investors and hedge funds have recently made changes to their positions in the business. ORG Partners LLC purchased a new position in shares of ESAB during the 1st quarter valued at approximately $35,000. Whittier Trust Co. raised its position in shares of ESAB by 302.6% during the 1st quarter. Whittier Trust Co. now owns 314 shares of the company's stock valued at $35,000 after acquiring an additional 236 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of ESAB during the 2nd quarter valued at approximately $42,000. GAMMA Investing LLC raised its position in shares of ESAB by 55.9% during the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company's stock valued at $44,000 after acquiring an additional 147 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of ESAB by 629.8% during the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company's stock valued at $65,000 after acquiring an additional 529 shares in the last quarter. 91.13% of the stock is currently 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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