ESAB (NYSE:ESAB) Price Target Raised to $140.00

ESAB (NYSE:ESAB) had its price target increased by investment analysts at JPMorgan Chase & Co. from $133.00 to $140.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 14.77% from the company’s current price.

ESAB has been the subject of several other research reports. Jefferies Financial Group started coverage on shares of ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 price target for the company. Stifel Nicolaus reduced their price target on shares of ESAB from $131.00 to $125.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Finally, Evercore ISI upgraded shares of ESAB from an “underperform” rating to an “inline” rating and cut their target price for the stock from $122.00 to $120.00 in a research report on Monday, February 24th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.14.

ESAB Stock Performance

Shares of ESAB stock opened at $121.98 on Tuesday. The firm has a 50-day moving average of $122.43 and a 200-day moving average of $118.28. The company has a market cap of $7.38 billion, a P/E ratio of 28.24, a P/E/G ratio of 2.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. ESAB has a one year low of $88.54 and a one year high of $135.97.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.13. The company had revenue of $633.20 million during the quarter, compared to analyst estimates of $636.43 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. Equities research analysts forecast that ESAB will post 5.16 EPS for the current fiscal year.

Hedge Funds Weigh In On ESAB

Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock valued at $26,000 after acquiring an additional 90 shares during the period. ORG Wealth Partners LLC bought a new position in shares of ESAB in the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. bought a new position in shares of ESAB in the fourth quarter valued at approximately $36,000. Trust Co. of Vermont boosted its position in shares of ESAB by 871.0% in the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock valued at $36,000 after acquiring an additional 270 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in shares of ESAB in the fourth quarter valued at approximately $47,000. 91.13% of the stock is currently 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.