ESAB (NYSE:ESAB) Upgraded by Evercore ISI to Inline Rating

Evercore ISI upgraded shares of ESAB (NYSE:ESAB) from an underperform rating to an inline rating in a research note published on Monday morning, MarketBeat Ratings reports. They currently have $120.00 price target on the stock, down from their previous price target of $122.00.

Several other equities analysts have also recently weighed in on ESAB. Oppenheimer reissued an “outperform” rating and set a $144.00 price target (up previously from $138.00) on shares of ESAB in a research report on Friday, November 8th. Stifel Nicolaus decreased their target price on shares of ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday. JPMorgan Chase & Co. cut their price objective on shares of ESAB from $135.00 to $133.00 and set an “overweight” rating for the company in a research report on Friday. Loop Capital boosted their price target on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group initiated coverage on shares of ESAB in a report on Thursday, December 12th. They set a “buy” rating and a $160.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

ESAB Trading Up 1.2 %

ESAB opened at $121.62 on Monday. The firm has a 50 day simple moving average of $122.39 and a 200 day simple moving average of $116.10. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. ESAB has a fifty-two week low of $88.54 and a fifty-two week high of $135.97.

ESAB (NYSE:ESAB) last posted 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. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The business had revenue of $633.20 million during the quarter, compared to analysts’ expectations of $636.43 million. On average, sell-side analysts anticipate that ESAB will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders 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 annualized dividend and a yield of 0.26%. ESAB’s payout ratio is currently 7.41%.

Institutional Trading of ESAB

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of ESAB by 629.8% during the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after purchasing an additional 529 shares during the last quarter. International Assets Investment Management LLC bought a new stake in ESAB during the 3rd quarter valued at $15,110,000. State of Alaska Department of Revenue lifted its holdings in ESAB by 1.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 33,463 shares of the company’s stock worth $3,556,000 after purchasing an additional 445 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of ESAB by 40.0% in the third quarter. Van ECK Associates Corp now owns 31,712 shares of the company’s stock worth $3,536,000 after buying an additional 9,062 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in ESAB by 20.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company’s stock valued at $119,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

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.