ESAB Co. (NYSE:ESAB) Receives $108.57 Consensus Price Target from Analysts

ESAB Co. (NYSE:ESAB) has been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $108.57.

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of ESAB from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Bank of America boosted their price target on shares of ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Stifel Nicolaus dropped their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Evercore ISI dropped their target price on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Oppenheimer initiated coverage on shares of ESAB in a report on Thursday, June 20th. They set an “outperform” rating and a $115.00 target price for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ESAB. Price T Rowe Associates Inc. MD boosted its position in shares of ESAB by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock valued at $710,316,000 after acquiring an additional 653,377 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in ESAB in the first quarter valued at about $33,811,000. Acadian Asset Management LLC lifted its position in ESAB by 2,277.5% in the first quarter. Acadian Asset Management LLC now owns 93,770 shares of the company’s stock valued at $10,359,000 after buying an additional 89,826 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in ESAB in the second quarter valued at about $8,277,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in ESAB in the first quarter valued at about $6,174,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Price Performance

NYSE:ESAB opened at $98.86 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.21. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 1.68 and a beta of 1.42. The company has a 50 day moving average price of $98.28 and a 200-day moving average price of $101.29. ESAB has a 1-year low of $61.43 and a 1-year high of $114.77.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Friday, August 2nd. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.27 by $0.05. The company had revenue of $707.10 million during the quarter, compared to analyst estimates of $686.75 million. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. Equities research analysts forecast that ESAB will post 4.84 EPS for the current year.

ESAB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.32%. ESAB’s payout ratio is 8.38%.

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.