Brokerages Set ESAB Co. (NYSE:ESAB) Price Target at $133.14

Shares of ESAB Co. (NYSE:ESAB) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $133.14.

Several brokerages have weighed in on ESAB. Jefferies Financial Group began coverage on ESAB in a report on Thursday, December 12th. They set a “buy” rating and a $160.00 price target on the stock. Evercore ISI upgraded ESAB from an “underperform” rating to an “inline” rating and cut their price target for the stock from $122.00 to $120.00 in a report on Monday, February 24th. JPMorgan Chase & Co. cut their price target on ESAB from $135.00 to $133.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Oppenheimer restated an “outperform” rating and set a $144.00 price target (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. Finally, Stifel Nicolaus cut their price target on ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a report on Friday, February 21st.

ESAB Price Performance

ESAB stock opened at $122.33 on Wednesday. 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 has a market capitalization of $7.40 billion, a PE ratio of 28.32, a P/E/G ratio of 2.01 and a beta of 1.36. ESAB has a 12-month low of $88.54 and a 12-month high of $135.97. The business’s fifty day moving average price is $122.25 and its 200 day moving average price is $117.24.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The firm had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. On average, sell-side analysts anticipate that ESAB will post 5.16 EPS for the current year.

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. ESAB’s payout ratio is currently 7.41%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its position in shares of ESAB by 70.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock valued at $26,000 after purchasing an additional 90 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of ESAB in the 4th quarter valued at about $34,000. Trust Co. of Vermont boosted its position in shares of ESAB by 871.0% in the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock valued at $36,000 after purchasing an additional 270 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of ESAB in the 4th quarter valued at about $36,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of ESAB in the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

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.