ESAB Co. (NYSE:ESAB) Receives $133.43 Average PT from Brokerages

Shares of ESAB Co. (NYSE:ESAB) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $133.43.

A number of analysts have recently weighed in on ESAB shares. Jefferies Financial Group started coverage on ESAB in a research note on Thursday, December 12th. They set a “buy” rating and a $160.00 price objective for the company. Oppenheimer reissued an “outperform” rating and set a $144.00 price objective (up previously from $138.00) on shares of ESAB in a research note on Friday, November 8th. Evercore ISI lowered ESAB from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $102.00 to $122.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Stifel Nicolaus lowered ESAB from a “buy” rating to a “hold” rating and dropped their price objective for the company from $138.00 to $130.00 in a research note on Monday, November 18th.

Insider Buying and Selling

In other ESAB news, CFO Kevin J. Johnson sold 5,044 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $630,500.00. Following the completion of the transaction, the chief financial officer now owns 11,433 shares in the company, valued at approximately $1,429,125. This represents a 30.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction on Wednesday, October 30th. The stock was 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. Insiders sold 68,418 shares of company stock valued at $8,431,773 over the last quarter. 7.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On ESAB

Institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of ESAB by 73.5% during the second quarter. American Century Companies Inc. now owns 8,895 shares of the company’s stock valued at $840,000 after acquiring an additional 3,768 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of ESAB by 8.8% during the second quarter. Envestnet Asset Management Inc. now owns 71,700 shares of the company’s stock valued at $6,771,000 after acquiring an additional 5,771 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of ESAB by 3,069.6% during the second quarter. Quantbot Technologies LP now owns 29,224 shares of the company’s stock valued at $2,760,000 after acquiring an additional 28,302 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of ESAB by 29.4% during the second quarter. Renaissance Technologies LLC now owns 137,660 shares of the company’s stock valued at $12,999,000 after acquiring an additional 31,260 shares in the last quarter. Finally, Edgestream Partners L.P. increased its holdings in shares of ESAB by 44.3% during the second quarter. Edgestream Partners L.P. now owns 64,239 shares of the company’s stock valued at $6,066,000 after acquiring an additional 19,721 shares in the last quarter. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Up 2.6 %

Shares of NYSE ESAB opened at $124.19 on Tuesday. ESAB has a one year low of $82.64 and a one year high of $135.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25. The firm’s 50 day simple moving average is $124.67 and its two-hundred day simple moving average is $110.68. The stock has a market capitalization of $7.51 billion, a P/E ratio of 29.08, a PEG ratio of 1.84 and a beta of 1.37.

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. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The business had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $620.50 million. During the same period last year, the business earned $1.08 earnings per share. The business’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, analysts expect that ESAB will post 4.93 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Tuesday, December 31st. ESAB’s payout ratio is 7.49%.

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.