ESAB (NYSE:ESAB) Given New $128.00 Price Target at JPMorgan Chase & Co.

ESAB (NYSE:ESAB) had its price objective hoisted by JPMorgan Chase & Co. from $120.00 to $128.00 in a research note issued to investors on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Oppenheimer began 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. Evercore ISI decreased their price target on shares of ESAB from $107.00 to $102.00 and set an in-line rating on the stock in a research report on Monday, August 19th. Stifel Nicolaus cut their price objective on shares of ESAB from $130.00 to $120.00 and set a buy rating for the company in a research report on Thursday, July 18th. Finally, Bank of America raised their target price on ESAB from $115.00 to $130.00 and gave the stock a buy rating in a report on Monday, August 5th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $115.00.

ESAB Stock Down 3.1 %

ESAB stock opened at $101.64 on Monday. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.84 and a beta of 1.42. The stock has a fifty day simple moving average of $100.24 and a two-hundred day simple moving average of $101.83. ESAB has a 12 month low of $61.43 and a 12 month high of $114.77. 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 earnings results on Friday, August 2nd. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The business had revenue of $707.10 million during the quarter, compared to analyst estimates of $686.75 million. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 EPS. Equities analysts predict that ESAB will post 4.84 EPS for the current fiscal year.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, September 27th. ESAB’s dividend payout ratio (DPR) is currently 8.38%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. boosted its stake in shares of 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 during the period. Treasurer of the State of North Carolina boosted its stake in shares of ESAB by 4.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 25,817 shares of the company’s stock worth $2,236,000 after acquiring an additional 1,041 shares during the period. Bank of Nova Scotia bought a new position in shares of ESAB in the fourth quarter worth about $1,239,000. Seven Eight Capital LP bought a new position in shares of ESAB in the fourth quarter worth about $820,000. Finally, Kapitalo Investimentos Ltda boosted its stake in shares of ESAB by 63.3% in the fourth quarter. Kapitalo Investimentos Ltda now owns 1,275 shares of the company’s stock worth $110,000 after acquiring an additional 494 shares during the period. Institutional investors 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.