Oppenheimer Increases ESAB (NYSE:ESAB) Price Target to $122.00

ESAB (NYSE:ESAB - Get Free Report) had its price objective hoisted by equities researchers at Oppenheimer from $115.00 to $122.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's target price would indicate a potential upside of 9.87% from the stock's previous close.

ESAB has been the topic of several other reports. Bank of America boosted their price target on ESAB from $115.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Evercore ISI cut their target price on shares of ESAB from $107.00 to $102.00 and set an "in-line" rating for the company in a research report on Monday, August 19th. JPMorgan Chase & Co. increased their price target on shares of ESAB from $120.00 to $128.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus dropped their price target on shares of ESAB from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $116.17.

ESAB Stock Down 1.6 %

ESAB stock traded down $1.85 during trading hours on Tuesday, hitting $111.04. 302,380 shares of the stock traded hands, compared to its average volume of 245,379. ESAB has a one year low of $61.43 and a one year high of $114.77. The company has a market cap of $6.71 billion, a PE ratio of 29.07, a PEG ratio of 1.81 and a beta of 1.42. The firm's 50-day moving average price is $103.26 and its two-hundred day moving average price is $101.64. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62.

ESAB (NYSE:ESAB - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.05. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The firm had revenue of $707.10 million for the quarter, compared to the consensus estimate of $686.75 million. During the same quarter last year, the firm posted $1.21 EPS. The business's quarterly revenue was down 1.8% compared to the same quarter last year. On average, research analysts forecast that ESAB will post 4.84 EPS for the current year.

Institutional Investors Weigh In On ESAB

Institutional investors and hedge funds have recently bought and sold shares of the business. ORG Partners LLC bought a new position in shares of ESAB during the first quarter worth $35,000. Whittier Trust Co. boosted its holdings 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 purchasing an additional 236 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in shares of ESAB during the second quarter valued at about $42,000. GAMMA Investing LLC lifted its position in shares of ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company's stock worth $44,000 after buying an additional 147 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company's stock valued at $65,000 after buying an additional 529 shares during the last quarter. 91.13% of the stock is owned by 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.