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

Shares of ESAB Co. (NYSE:ESAB) have been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $133.43.

ESAB has been the subject of several analyst reports. Jefferies Financial Group assumed coverage on ESAB in a research note on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price for the company. Stifel Nicolaus cut shares of ESAB from a “buy” rating to a “hold” rating and reduced their price objective for the company from $138.00 to $130.00 in a research note on Monday, November 18th. Evercore ISI cut shares of ESAB from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $102.00 to $122.00 in a research note on Wednesday, November 13th. Loop Capital raised their price target 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, JPMorgan Chase & Co. increased their price objective on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th.

ESAB Price Performance

Shares of NYSE:ESAB opened at $120.67 on Friday. The company has a 50-day moving average price of $123.91 and a two-hundred day moving average price of $107.63. ESAB has a twelve month low of $82.44 and a twelve month high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $7.29 billion, a PE ratio of 28.26, a P/E/G ratio of 2.25 and a beta of 1.34.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $620.50 million. During the same period in the previous year, the business earned $1.08 EPS. ESAB’s revenue was down 1.2% compared to the same quarter last year. Equities analysts forecast that ESAB will post 4.94 EPS for the current year.

ESAB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. ESAB’s dividend payout ratio is presently 7.49%.

Insider Buying and Selling

In other ESAB news, CFO Kevin J. Johnson sold 5,044 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $630,500.00. Following the completion of the sale, the chief financial officer now owns 11,433 shares in the company, valued at approximately $1,429,125. This trade represents a 30.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rhonda L. Jordan sold 4,254 shares of the business’s stock in a transaction that occurred 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. 7.00% of the stock is owned by insiders.

Hedge Funds Weigh In On ESAB

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of ESAB by 55.9% in the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares in the last quarter. Legacy Capital Group California Inc. boosted its position in shares of ESAB by 8.5% in the 3rd quarter. Legacy Capital Group California Inc. now owns 2,320 shares of the company’s stock worth $247,000 after purchasing an additional 181 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of ESAB by 5.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,829 shares of the company’s stock worth $362,000 after buying an additional 185 shares during the last quarter. Asset Management One Co. Ltd. increased its position in ESAB by 20.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company’s stock valued at $119,000 after buying an additional 190 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in ESAB by 5.9% during the third quarter. Crossmark Global Holdings Inc. now owns 3,912 shares of the company’s stock valued at $416,000 after buying an additional 218 shares during the last quarter. 91.13% of the stock is owned by 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.