ESAB Co. (NYSE:ESAB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of ESAB Co. (NYSE:ESAB) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $99.38.

ESAB has been the subject of a number of research reports. Stifel Nicolaus decreased their target price on ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Oppenheimer assumed coverage on ESAB in a research report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 target price on the stock.

Hedge Funds Weigh In On ESAB

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESAB. Whittier Trust Co. raised its position in ESAB by 302.6% in the 1st quarter. Whittier Trust Co. now owns 314 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares in the last quarter. ORG Partners LLC acquired a new position in shares of ESAB during the first quarter worth about $35,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of ESAB by 57.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock valued at $36,000 after buying an additional 154 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of ESAB in the 4th quarter valued at about $39,000. Finally, Quest Partners LLC purchased a new position in ESAB in the 4th quarter valued at approximately $103,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Price Performance

ESAB opened at $99.97 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.73 and a beta of 1.43. The business’s fifty day simple moving average is $97.56 and its 200-day simple moving average is $98.85. ESAB has a 12-month low of $61.43 and a 12-month high of $114.77.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.11 by $0.09. The firm had revenue of $690.00 million during the quarter, compared to analyst estimates of $653.93 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 EPS. On average, equities research analysts anticipate that ESAB will post 4.9 earnings per share for the current fiscal year.

ESAB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.08 dividend. The ex-dividend date was Friday, June 28th. This is a boost from ESAB’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. ESAB’s payout ratio is presently 8.38%.

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.