ESAB Co. (NYSE:ESAB) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of ESAB Co. (NYSE:ESAB) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $133.14.

A number of research firms have recently commented on ESAB. Stifel Nicolaus cut their target price on ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Oppenheimer reiterated an “outperform” rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a research note on Friday, November 8th. Jefferies Financial Group started coverage on ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 target price for the company. JPMorgan Chase & Co. cut their price target on shares of ESAB from $135.00 to $133.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Evercore ISI upgraded shares of ESAB from an “underperform” rating to an “inline” rating and decreased their price objective for the company from $122.00 to $120.00 in a report on Monday, February 24th.

Institutional Investors Weigh In On ESAB

Large investors have recently modified their holdings of the business. Van ECK Associates Corp increased its holdings in ESAB by 40.0% during the third quarter. Van ECK Associates Corp now owns 31,712 shares of the company’s stock valued at $3,536,000 after buying an additional 9,062 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of ESAB by 20.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company’s stock valued at $119,000 after acquiring an additional 190 shares during the period. Hudson Value Partners LLC raised its position in shares of ESAB by 9.0% in the 3rd quarter. Hudson Value Partners LLC now owns 48,401 shares of the company’s stock worth $5,146,000 after acquiring an additional 3,979 shares in the last quarter. Atria Investments Inc lifted its stake in shares of ESAB by 41.5% during the 3rd quarter. Atria Investments Inc now owns 7,132 shares of the company’s stock worth $758,000 after purchasing an additional 2,093 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of ESAB by 5.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,912 shares of the company’s stock worth $416,000 after purchasing an additional 218 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Down 2.4 %

Shares of ESAB opened at $117.53 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $122.42 and a 200 day moving average of $117.07. The company has a market cap of $7.11 billion, a PE ratio of 27.21, a P/E/G ratio of 2.01 and a beta of 1.36. ESAB has a 52-week low of $88.54 and a 52-week high of $135.97.

ESAB (NYSE:ESAB) last released its earnings results 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 net margin of 9.66% and a return on equity of 17.43%. The firm had revenue of $633.20 million during the quarter, compared to analyst estimates of $636.43 million. On average, sell-side analysts expect that ESAB will post 5.16 EPS for the current year.

ESAB Announces Dividend

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

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.