ESAB Co. (NYSE:ESAB) Receives $119.00 Consensus Price Target from Analysts

ESAB Co. (NYSE:ESAB) has received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $119.00.

ESAB has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Loop Capital increased their target price on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday. Bank of America increased their target price on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Oppenheimer reiterated an “outperform” rating and set a $138.00 target price (up previously from $122.00) on shares of ESAB in a research report on Wednesday. Finally, Stifel Nicolaus cut their target price on ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 18th.

ESAB Stock Performance

Shares of ESAB opened at $123.45 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $106.06 and a two-hundred day simple moving average of $102.17. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 2.16 and a beta of 1.42. ESAB has a 52 week low of $70.78 and a 52 week high of $127.33.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. The business had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 earnings per share. On average, analysts expect that ESAB will post 4.88 EPS for the current year.

ESAB Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Friday, September 27th. ESAB’s dividend payout ratio is presently 7.49%.

Insider Buying and Selling at ESAB

In other news, Director Rhonda L. Jordan sold 4,254 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Shyam Kambeyanda sold 59,120 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the sale, the chief executive officer now directly owns 53,902 shares of the company’s stock, valued at approximately $6,627,789.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rhonda L. Jordan sold 4,254 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 sold 68,418 shares of company stock worth $8,431,773 in the last quarter. 7.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in ESAB during the 1st quarter worth $3,913,000. Allspring Global Investments Holdings LLC increased its holdings in ESAB by 6.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 402,903 shares of the company’s stock worth $44,549,000 after purchasing an additional 23,825 shares during the period. Russell Investments Group Ltd. increased its holdings in ESAB by 37.7% during the 1st quarter. Russell Investments Group Ltd. now owns 116,097 shares of the company’s stock worth $12,836,000 after purchasing an additional 31,780 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in ESAB by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock worth $710,316,000 after purchasing an additional 653,377 shares during the period. Finally, Edgestream Partners L.P. increased its holdings in ESAB by 44.3% during the 2nd quarter. Edgestream Partners L.P. now owns 64,239 shares of the company’s stock worth $6,066,000 after purchasing an additional 19,721 shares during the period. 91.13% of the stock is currently owned by hedge funds and other 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.