ESAB (NYSE:ESAB) Given New $140.00 Price Target at JPMorgan Chase & Co.

ESAB (NYSE:ESAB) had its price target hoisted by JPMorgan Chase & Co. from $133.00 to $140.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group started coverage on shares of ESAB in a report on Thursday, December 12th. They set a “buy” rating and a $160.00 price target on the stock. Stifel Nicolaus lowered their price target on shares of ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Finally, Evercore ISI upgraded shares of ESAB from an “underperform” rating to an “inline” rating and lowered their price target for the company from $122.00 to $120.00 in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, ESAB has a consensus rating of “Moderate Buy” and an average target price of $134.14.

ESAB Price Performance

Shares of NYSE:ESAB opened at $119.52 on Tuesday. The company’s fifty day moving average is $122.56 and its two-hundred day moving average is $118.52. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. ESAB has a 12-month low of $88.54 and a 12-month high of $135.97. The company has a market cap of $7.23 billion, a P/E ratio of 27.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36.

ESAB (NYSE:ESAB) last announced its earnings results 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 net margin of 9.66% and a return on equity of 17.43%. The company had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. Equities analysts expect that ESAB will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Friday, April 4th. ESAB’s dividend payout ratio is presently 7.41%.

Institutional Investors Weigh In On ESAB

A number of hedge funds have recently bought and sold shares of ESAB. Atria Investments Inc boosted its holdings in ESAB by 41.5% during the third quarter. Atria Investments Inc now owns 7,132 shares of the company’s stock valued at $758,000 after acquiring an additional 2,093 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of ESAB in the third quarter valued at about $278,000. Victory Capital Management Inc. lifted its stake in shares of ESAB by 7.7% in the third quarter. Victory Capital Management Inc. now owns 27,878 shares of the company’s stock valued at $2,964,000 after buying an additional 1,996 shares during the period. KBC Group NV lifted its stake in shares of ESAB by 20.7% in the third quarter. KBC Group NV now owns 1,531 shares of the company’s stock valued at $163,000 after buying an additional 263 shares during the period. Finally, Quest Partners LLC lifted its stake in shares of ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after buying an additional 607 shares during the period. 91.13% of the stock is currently owned by institutional investors.

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.