ESAB Co. (NYSE:ESAB) Receives $98.63 Average Target Price from Brokerages

Shares of ESAB Co. (NYSE:ESAB) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $98.63.

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upgraded ESAB from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $111.00 to $125.00 in a research note on Monday, March 18th. Oppenheimer initiated coverage on shares of ESAB in a research report on Thursday, June 20th. They set an “outperform” rating and a $115.00 price target for the company.

ESAB Stock Up 0.7 %

ESAB stock opened at $93.22 on Friday. The firm has a fifty day moving average price of $100.81 and a two-hundred day moving average price of $97.57. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.65 and a quick ratio of 1.01. ESAB has a 1-year low of $61.43 and a 1-year high of $114.77. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 1.61 and a beta of 1.43.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Wednesday, May 1st. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.09. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The firm had revenue of $690.00 million for the quarter, compared to analyst estimates of $653.93 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. ESAB’s quarterly revenue was up .9% on a year-over-year basis. Research analysts predict that ESAB will post 4.91 EPS for the current year.

ESAB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.08 dividend. This is a positive change from ESAB’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, June 28th. ESAB’s dividend payout ratio is currently 8.38%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ESAB. Whittier Trust Co. boosted its stake in 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 in the last quarter. ORG Partners LLC acquired a new position in ESAB during the first quarter worth about $35,000. Nomura Asset Management Co. Ltd. raised its position in ESAB by 57.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock worth $36,000 after acquiring an additional 154 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in ESAB in the 4th quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. lifted its holdings in ESAB by 23.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 811 shares of the company’s stock valued at $57,000 after acquiring an additional 154 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Company Profile

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.