Brokerages Set ESAB Co. (NYSE:ESAB) Target Price at $124.14

Shares of ESAB Co. (NYSE:ESAB) have been given an average rating of “Hold” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $124.14.

ESAB has been the topic of several analyst reports. Loop Capital upped 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. Oppenheimer reiterated an “outperform” rating and set a $144.00 price objective (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. increased their target price on shares of ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, Bank of America upped their price objective on shares of ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, August 5th.

ESAB Stock Down 0.4 %

Shares of ESAB stock opened at $128.26 on Monday. ESAB has a one year low of $76.08 and a one year high of $135.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25. The stock has a fifty day moving average price of $115.54 and a 200 day moving average price of $104.58. The stock has a market cap of $7.75 billion, a P/E ratio of 30.04, a price-to-earnings-growth ratio of 2.26 and a beta of 1.37.

ESAB (NYSE:ESAB) last issued its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.13. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The business had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. During the same period in the previous year, the business earned $1.08 EPS. The firm’s revenue was down 1.2% on a year-over-year basis. Analysts predict that ESAB will post 4.94 earnings per share for the current year.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Friday, September 27th. ESAB’s dividend payout ratio is currently 7.49%.

Insider Buying and Selling

In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were 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 owns 53,902 shares in the company, valued at approximately $6,627,789.92. The trade was a 52.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction on Wednesday, October 30th. The shares were 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. Insiders own 7.20% of the company’s stock.

Institutional Trading of ESAB

Several hedge funds have recently added to or reduced their stakes in ESAB. Bessemer Group Inc. increased its stake in ESAB by 5,764.3% during the 1st quarter. Bessemer Group Inc. now owns 4,105 shares of the company’s stock worth $454,000 after purchasing an additional 4,035 shares in the last quarter. Quadrature Capital Ltd bought a new stake in ESAB in the 1st quarter valued at $378,000. Janus Henderson Group PLC boosted its stake in ESAB by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 33,603 shares of the company’s stock worth $3,720,000 after purchasing an additional 5,055 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in ESAB during the 1st quarter worth about $6,174,000. Finally, Virtu Financial LLC acquired a new stake in shares of ESAB in the 1st quarter valued at about $240,000. Institutional investors and hedge funds 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.