Stifel Nicolaus Cuts Lincoln Electric (NASDAQ:LECO) Price Target to $211.00

Lincoln Electric (NASDAQ:LECO) had its target price cut by analysts at Stifel Nicolaus from $216.00 to $211.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 6.96% from the stock’s current price.

Several other equities research analysts have also commented on LECO. StockNews.com upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. KeyCorp upped their target price on Lincoln Electric from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $229.50.

Lincoln Electric Trading Down 0.7 %

LECO opened at $197.27 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.85 and a debt-to-equity ratio of 0.86. The stock’s fifty day moving average is $199.13 and its two-hundred day moving average is $196.41. The company has a market capitalization of $11.13 billion, a P/E ratio of 23.54, a PEG ratio of 1.42 and a beta of 1.18. Lincoln Electric has a 52 week low of $169.51 and a 52 week high of $261.13.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.05 by $0.09. The firm had revenue of $983.76 million for the quarter, compared to analyst estimates of $988.07 million. Lincoln Electric had a return on equity of 40.03% and a net margin of 11.93%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.40 earnings per share. Analysts forecast that Lincoln Electric will post 8.74 earnings per share for the current year.

Institutional Investors Weigh In On Lincoln Electric

Institutional investors have recently bought and sold shares of the company. Avior Wealth Management LLC lifted its holdings in shares of Lincoln Electric by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 1,644 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 48 shares during the last quarter. CIBC Asset Management Inc raised its stake in Lincoln Electric by 3.2% in the third quarter. CIBC Asset Management Inc now owns 1,646 shares of the industrial products company’s stock valued at $316,000 after buying an additional 51 shares during the last quarter. Fifth Third Bancorp raised its stake in Lincoln Electric by 3.2% in the fourth quarter. Fifth Third Bancorp now owns 1,737 shares of the industrial products company’s stock valued at $326,000 after buying an additional 54 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of Lincoln Electric by 4.8% during the third quarter. Ritholtz Wealth Management now owns 1,303 shares of the industrial products company’s stock worth $250,000 after acquiring an additional 60 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Lincoln Electric by 0.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 9,634 shares of the industrial products company’s stock valued at $1,813,000 after acquiring an additional 70 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.