ESAB Co. (NYSE:ESAB) Receives $134.14 Average PT from Analysts

ESAB Co. (NYSE:ESAB) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $135.75.

A number of research analysts have weighed in on ESAB shares. UBS Group upgraded ESAB from a “neutral” rating to a “buy” rating and raised their price objective for the company from $123.00 to $147.00 in a report on Tuesday, April 1st. Evercore ISI raised shares of ESAB from an “underperform” rating to an “inline” rating and decreased their price target for the stock from $122.00 to $120.00 in a research note on Monday, February 24th. Jefferies Financial Group started coverage on shares of ESAB in a research note on Thursday, December 12th. They set a “buy” rating and a $160.00 price objective for the company. Stifel Nicolaus decreased their target price on shares of ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price target on ESAB from $133.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th.

ESAB Stock Down 5.0 %

Shares of NYSE ESAB opened at $107.25 on Friday. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. The company’s 50-day simple moving average is $121.82 and its 200-day simple moving average is $120.25. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. ESAB has a 52-week low of $88.54 and a 52-week high of $135.97.

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

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. ESAB’s dividend payout ratio is currently 7.41%.

Hedge Funds Weigh In On ESAB

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 90 shares during the period. ORG Wealth Partners LLC acquired a new position in ESAB during the 4th quarter worth about $34,000. Trust Co. of Vermont boosted its holdings in ESAB by 871.0% during the 4th 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. SBI Securities Co. Ltd. acquired a new position in ESAB in the 4th quarter valued at about $36,000. Finally, Kapitalo Investimentos Ltda acquired a new position in ESAB in the 4th quarter valued at about $47,000. 91.13% of the stock is currently owned by hedge funds and other 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.