ESAB Co. (NYSE:ESAB) Receives Average Rating of “Moderate Buy” from Analysts

ESAB Co. (NYSE:ESAB) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $115.00.

Several brokerages have recently issued reports on ESAB. JPMorgan Chase & Co. lifted their price target on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Evercore ISI reduced their price objective on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Oppenheimer began coverage on ESAB in a research report on Thursday, June 20th. They set an “outperform” rating and a $115.00 price objective on the stock. Stifel Nicolaus reduced their price objective on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Bank of America boosted their price objective on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, August 5th.

ESAB Trading Up 1.4 %

Shares of ESAB opened at $103.15 on Friday. ESAB has a 52-week low of $61.43 and a 52-week high of $114.77. The business’s fifty day moving average is $100.35 and its 200-day moving average is $101.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.21 and a current ratio of 1.86. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 1.84 and a beta of 1.42.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Friday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The company had revenue of $707.10 million for the quarter, compared to analyst estimates of $686.75 million. During the same quarter last year, the company posted $1.21 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities analysts anticipate that ESAB will post 4.84 EPS for the current fiscal year.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.08 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.31%. ESAB’s dividend payout ratio (DPR) is presently 8.38%.

Institutional Investors Weigh In On ESAB

A number of institutional investors have recently made changes to their positions in ESAB. Bank of Nova Scotia bought a new stake in shares of ESAB in the 4th quarter valued at about $1,239,000. Seven Eight Capital LP acquired a new position in shares of ESAB in the 4th quarter valued at about $820,000. Kapitalo Investimentos Ltda lifted its stake in shares of ESAB by 63.3% in the 4th quarter. Kapitalo Investimentos Ltda now owns 1,275 shares of the company’s stock valued at $110,000 after purchasing an additional 494 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of ESAB by 0.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 161,588 shares of the company’s stock valued at $17,867,000 after purchasing an additional 689 shares during the period. Finally, Diversified Trust Co acquired a new position in shares of ESAB in the 1st quarter valued at about $431,000. 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.