ESAB Co. (NYSE:ESAB) Receives Average Rating of “Hold” from Analysts

Shares of ESAB Co. (NYSE:ESAB) have earned a consensus rating of “Hold” from the seven research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $133.57.

Several brokerages recently issued reports on ESAB. Loop Capital boosted their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on ESAB from $130.00 to $131.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Oppenheimer restated an “outperform” rating and issued a $144.00 target price (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Evercore ISI downgraded shares of ESAB from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $102.00 to $122.00 in a research note on Wednesday, November 13th. Finally, 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 for the company.

ESAB Stock Performance

NYSE ESAB opened at $122.77 on Friday. The company’s fifty day moving average is $123.47 and its two-hundred day moving average is $113.59. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 1.99 and a beta of 1.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25. ESAB has a 52-week low of $87.12 and a 52-week high of $135.97.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 annualized dividend and a yield of 0.26%. ESAB’s dividend payout ratio is currently 7.49%.

Institutional Investors Weigh In On ESAB

Several institutional investors and hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new stake in shares of ESAB during the 4th quarter worth about $34,000. Trust Co. of Vermont grew its stake in ESAB by 871.0% during the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after buying an additional 270 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of ESAB during the fourth quarter worth approximately $36,000. GAMMA Investing LLC raised its stake in shares of ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of ESAB by 629.8% in the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after acquiring an additional 529 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

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.