ESAB Co. (NYSE:ESAB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of ESAB Co. (NYSE:ESAB) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $98.63.

A number of brokerages have commented on ESAB. Evercore ISI increased their target price on ESAB from $93.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday, March 5th. Oppenheimer began coverage on ESAB in a report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. upgraded ESAB from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $111.00 to $125.00 in a report on Monday, March 18th. Finally, Stifel Nicolaus boosted their price objective on shares of ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 1st.

ESAB Trading Down 0.6 %

NYSE ESAB opened at $94.89 on Friday. ESAB has a 52 week low of $61.43 and a 52 week high of $114.77. The company has a 50 day moving average price of $102.16 and a 200 day moving average price of $97.25. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.59. The firm has a market cap of $5.73 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.63 and a beta of 1.48.

ESAB (NYSE:ESAB) last released its earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The firm had revenue of $690.00 million for the quarter, compared to the consensus estimate of $653.93 million. During the same period in the prior year, the firm earned $1.04 EPS. The firm’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts forecast that ESAB will post 4.91 EPS for the current fiscal year.

ESAB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, June 28th. This is a positive change from ESAB’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. ESAB’s payout ratio is currently 6.28%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. grew its holdings in ESAB by 302.6% in the 1st quarter. Whittier Trust Co. now owns 314 shares of the company’s stock valued at $35,000 after buying an additional 236 shares during the period. ORG Partners LLC purchased a new position in ESAB during the first quarter worth approximately $35,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of ESAB by 57.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock valued at $36,000 after purchasing an additional 154 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of ESAB during the 4th quarter valued at $39,000. Finally, Raleigh Capital Management Inc. increased its holdings in shares of ESAB by 23.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 811 shares of the company’s stock worth $57,000 after buying an additional 154 shares during the last quarter. Institutional investors and hedge funds 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.