ESAB (NYSE:ESAB) Price Target Cut to $125.00 by Analysts at Stifel Nicolaus

ESAB (NYSE:ESAB) had its target price cut by Stifel Nicolaus from $131.00 to $125.00 in a research report released on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts have also recently commented on the company. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and upped their price target for the company from $102.00 to $122.00 in a research note on Wednesday, November 13th. Loop Capital upped their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Jefferies Financial Group initiated coverage on ESAB in a research note on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 price target (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $133.43.

ESAB Stock Performance

Shares of NYSE:ESAB opened at $120.07 on Friday. The stock has a market capitalization of $7.26 billion, a P/E ratio of 28.12, a P/E/G ratio of 2.02 and a beta of 1.36. ESAB has a 1-year low of $88.54 and a 1-year 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 business has a 50-day moving average price of $122.57 and a two-hundred day moving average price of $115.61.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.13. The company had revenue of $633.20 million during the quarter, compared to analysts’ expectations of $636.43 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. Equities analysts predict that ESAB will post 4.92 earnings per share for the current year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. ESAB’s payout ratio is 7.41%.

Institutional Trading of ESAB

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in ESAB by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock worth $202,001,000 after purchasing an additional 337,983 shares in the last quarter. Van ECK Associates Corp boosted its position in ESAB by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 31,712 shares of the company’s stock worth $3,536,000 after acquiring an additional 9,062 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in ESAB during the 4th quarter worth approximately $254,000. Fifth Third Wealth Advisors LLC acquired a new position in ESAB during the 4th quarter worth approximately $204,000. Finally, Barclays PLC boosted its position in ESAB by 46.7% during the 3rd quarter. Barclays PLC now owns 31,513 shares of the company’s stock worth $3,349,000 after acquiring an additional 10,027 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

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.