ESAB Co. (NYSE:ESAB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of ESAB Co. (NYSE:ESAB) have been given a consensus rating of “Hold” by the seven brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $124.14.

ESAB has been the topic of several research reports. Oppenheimer reissued an “outperform” rating and set a $144.00 price objective (up from $138.00) on shares of ESAB in a report on Friday, November 8th. Loop Capital boosted their price target on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Bank of America lifted their target price on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Stifel Nicolaus lowered shares of ESAB from a “buy” rating to a “hold” rating and decreased their price target for the company from $138.00 to $130.00 in a research report on Monday, November 18th. Finally, Evercore ISI cut shares of 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.

ESAB Price Performance

Shares of ESAB stock opened at $129.08 on Monday. ESAB has a twelve month low of $76.08 and a twelve month high of $135.97. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $116.95 and a two-hundred day simple moving average of $104.99. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 30.23, a P/E/G ratio of 2.26 and a beta of 1.37.

ESAB (NYSE:ESAB) last issued its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.13. The company had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. On average, analysts predict that ESAB will post 4.94 EPS for the current fiscal year.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Friday, September 27th. ESAB’s payout ratio is currently 7.49%.

Insider Transactions at ESAB

In other news, CEO Shyam Kambeyanda sold 59,120 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 53,902 shares in the company, valued at $6,627,789.92. This trade represents a 52.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin J. Johnson sold 5,044 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total value of $630,500.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,418 shares of company stock worth $8,431,773. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. increased its stake in shares of ESAB by 5,764.3% in the 1st quarter. Bessemer Group Inc. now owns 4,105 shares of the company’s stock valued at $454,000 after purchasing an additional 4,035 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of ESAB in the first quarter valued at approximately $378,000. Janus Henderson Group PLC raised its stake in shares of ESAB by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 33,603 shares of the company’s stock worth $3,720,000 after buying an additional 5,055 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of ESAB during the 1st quarter valued at approximately $6,174,000. Finally, Virtu Financial LLC acquired a new stake in ESAB in the 1st quarter valued at $240,000. Hedge funds and other 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.