Analysts Set ESAB Co. (NYSE:ESAB) PT at $133.43

ESAB Co. (NYSE:ESAB) has been given an average rating of “Hold” by the seven analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $133.43.

Several equities research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of ESAB in a report on Thursday, December 12th. They set a “buy” rating and a $160.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Evercore ISI downgraded shares of ESAB from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. Loop Capital upped their price objective on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus downgraded shares of ESAB from a “buy” rating to a “hold” rating and dropped their price objective for the company from $138.00 to $130.00 in a report on Monday, November 18th.

Insider Activity

In related news, CFO Kevin J. Johnson sold 5,044 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total value of $630,500.00. Following the transaction, the chief financial officer now directly owns 11,433 shares in the company, valued at approximately $1,429,125. This represents a 30.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rhonda L. Jordan sold 4,254 shares of the company’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 transaction of $531,877.62. The disclosure for this sale can be found here. Insiders have sold a total of 68,418 shares of company stock worth $8,431,773 over the last ninety days. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of ESAB by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock worth $202,001,000 after purchasing an additional 337,983 shares during the last quarter. Edgestream Partners L.P. increased its position in shares of ESAB by 44.3% in the second 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 last quarter. Van ECK Associates Corp grew its position in ESAB by 40.0% during the third quarter. Van ECK Associates Corp now owns 31,712 shares of the company’s stock valued at $3,536,000 after acquiring an additional 9,062 shares during the last quarter. Envestnet Asset Management Inc. grew its position in ESAB by 8.8% during the second quarter. Envestnet Asset Management Inc. now owns 71,700 shares of the company’s stock valued at $6,771,000 after acquiring an additional 5,771 shares during the last quarter. Finally, Barclays PLC grew its position in ESAB by 46.7% during the third quarter. Barclays PLC now owns 31,513 shares of the company’s stock valued at $3,349,000 after acquiring an additional 10,027 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.

ESAB Price Performance

Shares of NYSE:ESAB opened at $124.19 on Tuesday. The company’s 50-day moving average is $124.67 and its 200 day moving average is $110.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92. The company has a market capitalization of $7.51 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 1.84 and a beta of 1.37. ESAB has a fifty-two week low of $82.64 and a fifty-two week high of $135.97.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. The company had revenue of $673.00 million for the quarter, compared to the consensus estimate of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. On average, equities research analysts forecast that ESAB will post 4.93 earnings per share for the current year.

ESAB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Tuesday, December 31st. ESAB’s dividend payout ratio is presently 7.49%.

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.