ESAB (NYSE:ESAB) Price Target Raised to $140.00

ESAB (NYSE:ESAB) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $133.00 to $140.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 14.77% from the stock’s current price.

Several other research analysts have also issued reports on ESAB. Stifel Nicolaus cut their target price on shares of ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Jefferies Financial Group began coverage on shares of ESAB in a research note on Thursday, December 12th. They set a “buy” rating and a $160.00 target price on the stock. Finally, Evercore ISI raised shares of ESAB from an “underperform” rating to an “inline” rating and cut their target price for the stock from $122.00 to $120.00 in a research note on Monday, February 24th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $134.14.

ESAB Trading Up 1.4 %

NYSE:ESAB opened at $121.98 on Tuesday. The firm’s fifty day moving average is $122.43 and its 200-day moving average is $118.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. ESAB has a 52 week low of $88.54 and a 52 week high of $135.97. The firm has a market cap of $7.38 billion, a P/E ratio of 28.24, a P/E/G ratio of 2.01 and a beta of 1.36.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.13. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The company had revenue of $633.20 million for the quarter, compared to analyst estimates of $636.43 million. Equities analysts expect that ESAB will post 5.16 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in ESAB by 70.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $26,000 after buying an additional 90 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of ESAB in the fourth quarter valued at about $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of ESAB in the fourth quarter valued at about $36,000. Trust Co. of Vermont raised its holdings in shares of ESAB by 871.0% in the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock valued at $36,000 after purchasing an additional 270 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of ESAB in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

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.