JPMorgan Chase & Co. Has Lowered Expectations for ESAB (NYSE:ESAB) Stock Price

ESAB (NYSE:ESAB) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $135.00 to $133.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 10.77% from the stock’s previous close.

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

ESAB Stock Down 0.0 %

ESAB stock opened at $120.07 on Friday. The stock has a market cap of $7.26 billion, a price-to-earnings 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. The company’s 50-day moving average price is $122.57 and its two-hundred day moving average price is $115.75. ESAB has a 52 week low of $88.54 and a 52 week high of $135.97.

ESAB (NYSE:ESAB) last released its earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.15 by $0.13. The firm had revenue of $633.20 million for the quarter, compared to analysts’ expectations of $636.43 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. On average, analysts expect that ESAB will post 5.16 EPS for the current fiscal year.

Institutional Trading of ESAB

A number of institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake in ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock valued at $26,000 after acquiring an additional 90 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in ESAB by 15.6% in the fourth quarter. Quadrant Capital Group LLC now owns 682 shares of the company’s stock valued at $82,000 after acquiring an additional 92 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in ESAB by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company’s stock valued at $1,895,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System lifted its stake in ESAB by 0.8% in the fourth quarter. Arizona State Retirement System now owns 16,664 shares of the company’s stock valued at $1,999,000 after acquiring an additional 135 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after acquiring an additional 139 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Company Profile

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.