ESAB (NYSE:ESAB) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of ESAB (NYSE:ESAB) in a research report report published on Thursday, Marketbeat.com reports. The firm issued a buy rating and a $160.00 price target on the stock.

Other research analysts have also issued reports about the company. Evercore ISI lowered ESAB from an “in-line” rating to an “underperform” rating and raised their price target for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Loop Capital lifted their target price on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $144.00 price target (up previously from $138.00) on shares of ESAB in a research note on Friday, November 8th. Finally, Stifel Nicolaus cut ESAB from a “buy” rating to a “hold” rating and dropped their price target for the stock from $138.00 to $130.00 in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $133.43.

ESAB Price Performance

Shares of ESAB opened at $127.63 on Thursday. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 2.25 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92. ESAB has a one year low of $82.44 and a one year high of $135.97. The stock’s fifty day moving average is $121.78 and its 200-day moving average is $106.64.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13. The company had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $1.08 earnings per share. Equities analysts anticipate that ESAB will post 4.94 EPS for the current year.

Insider Buying and Selling

In other news, CEO Shyam Kambeyanda sold 59,120 shares of ESAB stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total value of $7,269,395.20. Following the transaction, the chief executive officer now owns 53,902 shares in the company, valued at approximately $6,627,789.92. This trade represents a 52.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rhonda L. Jordan sold 4,254 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total value of $531,877.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,418 shares of company stock worth $8,431,773. 7.00% of the stock is owned by corporate insiders.

Institutional Trading of ESAB

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new position in ESAB in the second quarter valued at approximately $42,000. GAMMA Investing LLC increased its holdings in shares of ESAB by 55.9% in the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of ESAB by 629.8% in the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after buying an additional 529 shares during the last quarter. Quest Partners LLC increased its holdings in shares of ESAB by 12,140.0% in the 3rd quarter. Quest Partners LLC now owns 612 shares of the company’s stock worth $65,000 after buying an additional 607 shares during the last quarter. Finally, Millburn Ridgefield Corp bought a new position in shares of ESAB in the 3rd quarter worth $77,000. 91.13% of the stock is owned by institutional investors.

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.