ESAB (NYSE:ESAB) Given New $109.00 Price Target at Stifel Nicolaus

ESAB (NYSE:ESAB) had its price objective dropped by analysts at Stifel Nicolaus from $125.00 to $109.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential downside of 6.00% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of ESAB from $133.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. UBS Group raised ESAB from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $123.00 to $147.00 in a report on Tuesday, April 1st. Finally, Evercore ISI raised ESAB from an “underperform” rating to an “inline” rating and reduced their target price for the stock from $122.00 to $120.00 in a report on Monday, February 24th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $133.75.

ESAB Stock Up 0.6 %

NYSE:ESAB traded up $0.64 during trading hours on Monday, hitting $115.96. 9,505 shares of the company’s stock traded hands, compared to its average volume of 275,444. The stock’s fifty day moving average price is $120.25 and its two-hundred day moving average price is $120.52. The firm has a market cap of $7.03 billion, a P/E ratio of 26.90, a P/E/G ratio of 2.01 and a beta of 1.37. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. ESAB has a twelve month low of $88.54 and a twelve month high of $135.97.

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

Hedge Funds Weigh In On ESAB

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of ESAB by 15,942.6% during the first quarter. GAMMA Investing LLC now owns 88,074 shares of the company’s stock worth $10,261,000 after purchasing an additional 87,525 shares during the period. Michels Family Financial LLC bought a new stake in shares of ESAB during the 4th quarter worth $723,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in ESAB by 13.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 167,009 shares of the company’s stock worth $20,031,000 after acquiring an additional 20,430 shares in the last quarter. Vident Advisory LLC bought a new position in ESAB in the 4th quarter valued at approximately $404,000. Finally, Teza Capital Management LLC acquired a new position in shares of ESAB in the fourth quarter valued at approximately $671,000. 91.13% of the stock is owned by 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.