ESAB (NYSE:ESAB) Price Target Raised to $140.00

ESAB (NYSE:ESAB) had its price target hoisted by JPMorgan Chase & Co. from $133.00 to $140.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also commented on the stock. Stifel Nicolaus dropped their price target on shares of ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Evercore ISI raised shares of ESAB from an “underperform” rating to an “inline” rating and dropped their target price for the company from $122.00 to $120.00 in a research report on Monday, February 24th. Finally, Jefferies Financial Group initiated coverage on shares of ESAB in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.14.

ESAB Price Performance

ESAB stock opened at $120.35 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $122.71 and a 200-day simple moving average of $118.56. The stock has a market cap of $7.28 billion, a P/E ratio of 27.86, a price-to-earnings-growth 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.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The business had revenue of $633.20 million during the quarter, compared to analysts’ expectations of $636.43 million. Equities analysts expect that ESAB will post 5.16 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be issued a $0.08 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. ESAB’s payout ratio is 7.41%.

Institutional Trading of ESAB

A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its stake in ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock valued at $26,000 after purchasing an additional 90 shares during the period. ORG Wealth Partners LLC acquired a new position in ESAB in the 4th quarter valued at about $34,000. Trust Co. of Vermont raised its stake in ESAB by 871.0% during the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock valued at $36,000 after acquiring an additional 270 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in ESAB during the 4th quarter worth approximately $36,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of ESAB in the 4th quarter valued at approximately $47,000. 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.