ESAB Co. (NYSE:ESAB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of ESAB Co. (NYSE:ESAB) have earned an average rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $115.00.

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on ESAB from $120.00 to $128.00 and gave the stock 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 company a “buy” rating in a research note on Monday, August 5th. Stifel Nicolaus decreased their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Oppenheimer started coverage on shares of ESAB in a research note on Thursday, June 20th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, Evercore ISI lowered their price objective 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.

ESAB Trading Up 3.7 %

ESAB stock opened at $106.87 on Friday. The stock has a 50-day moving average price of $100.85 and a 200 day moving average price of $101.69. ESAB has a 52 week low of $61.43 and a 52 week high of $114.77. The stock has a market cap of $6.46 billion, a PE ratio of 26.07, a P/E/G ratio of 1.81 and a beta of 1.42. 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) last posted its quarterly earnings data on Friday, August 2nd. The company reported $1.32 earnings per share 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 business had revenue of $707.10 million during the quarter, compared to analyst estimates of $686.75 million. During the same quarter in the previous year, the business posted $1.21 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. Equities research analysts predict that ESAB will post 4.84 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, September 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. ESAB’s payout ratio is 7.80%.

Institutional Trading of ESAB

Several large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of ESAB by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock worth $710,316,000 after buying an additional 653,377 shares during the period. DAVENPORT & Co LLC grew its position in ESAB by 5.5% in the first quarter. DAVENPORT & Co LLC now owns 811,679 shares of the company’s stock valued at $89,422,000 after acquiring an additional 42,099 shares in the last quarter. TD Asset Management Inc raised its stake in shares of ESAB by 5.4% during the second quarter. TD Asset Management Inc now owns 531,122 shares of the company’s stock valued at $50,154,000 after purchasing an additional 27,202 shares during the period. Bank of New York Mellon Corp lifted its position in shares of ESAB by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 490,532 shares of the company’s stock worth $46,321,000 after purchasing an additional 21,025 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of ESAB by 7.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 432,356 shares of the company’s stock valued at $40,827,000 after purchasing an additional 29,453 shares during the period. 91.13% of the stock is currently owned by institutional investors and hedge funds.

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.