Analysts Set ESAB Co. (NYSE:ESAB) Target Price at $124.14

Shares of ESAB Co. (NYSE:ESAB) have earned an average rating of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $124.14.

Several analysts recently issued reports on ESAB shares. Evercore ISI lowered ESAB from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th. Loop Capital upped their price objective on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Bank of America raised their target price on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price target on shares of ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus downgraded ESAB from a “buy” rating to a “hold” rating and lowered their price target for the stock from $138.00 to $130.00 in a research report on Monday, November 18th.

ESAB Price Performance

NYSE ESAB opened at $128.26 on Monday. ESAB has a 12-month low of $76.08 and a 12-month high of $135.97. The firm’s 50 day moving average is $115.54 and its 200-day moving average is $104.58. The company has a market capitalization of $7.75 billion, a PE ratio of 30.04, a price-to-earnings-growth ratio of 2.26 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58.

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

ESAB Dividend Announcement

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

Insider Buying and Selling at ESAB

In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of ESAB 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 completion of the transaction, the chief executive officer now directly owns 53,902 shares of the company’s stock, valued at $6,627,789.92. The trade was a 52.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rhonda L. Jordan sold 4,254 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total value of $531,877.62. The disclosure for this sale can be found here. Insiders have sold a total of 68,418 shares of company stock valued at $8,431,773 in the last ninety days. 7.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ESAB

Several hedge funds have recently bought and sold shares of the company. Tidal Investments LLC increased its stake in shares of ESAB by 12.5% in the 3rd quarter. Tidal Investments LLC now owns 4,409 shares of the company’s stock valued at $469,000 after purchasing an additional 490 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in ESAB during the third quarter worth about $274,000. Geode Capital Management LLC lifted its holdings in shares of ESAB by 19.7% in the third quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company’s stock worth $123,353,000 after acquiring an additional 190,583 shares during the last quarter. Adalta Capital Management LLC boosted its stake in shares of ESAB by 116.0% in the 3rd quarter. Adalta Capital Management LLC now owns 2,160 shares of the company’s stock valued at $230,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of ESAB by 46.7% during the 3rd quarter. Barclays PLC now owns 31,513 shares of the company’s stock valued at $3,349,000 after purchasing an additional 10,027 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

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.