Stifel Nicolaus Cuts ESAB (NYSE:ESAB) Price Target to $125.00

ESAB (NYSE:ESAB) had its price target lowered by Stifel Nicolaus from $131.00 to $125.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research firms have also issued reports on ESAB. Jefferies Financial Group initiated coverage on ESAB in a research note on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective for the company. Loop Capital raised their price objective on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Evercore ISI lowered ESAB from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $102.00 to $122.00 in a research note on Wednesday, November 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 price objective (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $133.43.

ESAB Price Performance

Shares of ESAB stock opened at $120.07 on Friday. The stock has a 50 day moving average of $122.57 and a 200 day moving average of $115.91. ESAB has a 12 month low of $88.54 and a 12 month high of $135.97. The firm has a market cap of $7.26 billion, a PE ratio of 27.79, a PEG ratio of 2.01 and a beta of 1.36. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $636.43 million. On average, research analysts expect that ESAB will post 5.16 EPS for the current fiscal year.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were issued a $0.08 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. ESAB’s dividend payout ratio is presently 7.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position in shares of ESAB by 70.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $26,000 after purchasing an additional 90 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of ESAB in the 4th quarter worth $34,000. Trust Co. of Vermont boosted its position in shares of ESAB by 871.0% in the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after purchasing an additional 270 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of ESAB in the 4th quarter worth $36,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of ESAB in the 4th quarter worth $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.