ESAB Co. (NYSE:ESAB) Receives $119.00 Consensus Target Price from Brokerages

Shares of ESAB Co. (NYSE:ESAB) have been given an average rating of “Moderate Buy” by the seven analysts that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $119.00.

A number of research analysts have recently weighed in on ESAB shares. JPMorgan Chase & Co. raised their target price on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Evercore ISI dropped their price objective on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Loop Capital upped their target price on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their price target on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Bank of America upped their price objective on shares of ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, August 5th.

ESAB Stock Performance

Shares of ESAB stock opened at $133.11 on Thursday. 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 firm has a fifty day simple moving average of $107.53 and a two-hundred day simple moving average of $102.58. ESAB has a 12 month low of $74.22 and a 12 month high of $135.97. The firm has a market capitalization of $8.05 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 2.11 and a beta of 1.37.

ESAB (NYSE:ESAB) last posted its earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.12 by $0.13. The company had revenue of $673.00 million during the quarter, compared to the consensus estimate of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. Analysts forecast that ESAB will post 4.93 EPS for the current fiscal year.

ESAB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.08 per share. The ex-dividend date was Friday, September 27th. This represents a $0.32 annualized dividend and a yield of 0.24%. ESAB’s payout ratio is currently 7.49%.

Insiders Place Their Bets

In other news, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total transaction of $531,877.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Rhonda L. Jordan sold 4,254 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 53,902 shares of the company’s stock, valued at $6,627,789.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,418 shares of company stock valued at $8,431,773. Company insiders own 7.20% of the company’s stock.

Institutional Trading of ESAB

Hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. boosted its holdings in ESAB by 302.6% in the 1st quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after buying an additional 236 shares during the period. ORG Partners LLC purchased a new stake in shares of ESAB during the first quarter worth $35,000. GAMMA Investing LLC boosted its holdings in shares of ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of ESAB in the second quarter valued at $42,000. Finally, Blue Trust Inc. raised its stake in shares of ESAB by 629.8% during the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after purchasing an additional 529 shares during the period. 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.