ESAB (NYSE:ESAB) Price Target Lowered to $109.00 at Stifel Nicolaus

ESAB (NYSE:ESAB) had its price target decreased by Stifel Nicolaus from $125.00 to $109.00 in a report published on Monday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Other analysts have also recently issued research reports about the stock. UBS Group upgraded shares of ESAB from a “neutral” rating to a “buy” rating and boosted their target price for the company from $123.00 to $147.00 in a report on Tuesday, April 1st. Evercore ISI raised shares of ESAB from an “underperform” rating to an “inline” rating and dropped their price objective for the stock from $122.00 to $120.00 in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of ESAB from $133.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, ESAB has an average rating of “Moderate Buy” and a consensus price target of $133.75.

ESAB Stock Down 1.8 %

Shares of ESAB stock opened at $113.46 on Monday. The company’s fifty day simple moving average is $119.76 and its two-hundred day simple moving average is $120.50. ESAB has a 12-month low of $88.54 and a 12-month high of $135.97. 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 cap of $6.88 billion, a P/E ratio of 26.26, a PEG ratio of 2.01 and a beta of 1.37.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.13. The business had revenue of $633.20 million for the quarter, compared to analysts’ expectations of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. Research analysts anticipate that ESAB will post 5.16 EPS for the current 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 given a $0.08 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.32 annualized dividend and a yield of 0.28%. ESAB’s dividend payout ratio (DPR) is presently 7.41%.

Hedge Funds Weigh In On ESAB

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of ESAB in the fourth quarter worth approximately $81,199,000. Raymond James Financial Inc. bought a new stake in ESAB in the 4th quarter worth approximately $52,281,000. TimesSquare Capital Management LLC raised its stake in ESAB by 104.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 839,685 shares of the company’s stock valued at $100,712,000 after buying an additional 428,770 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ESAB by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock valued at $202,001,000 after buying an additional 337,983 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of ESAB by 17.9% in the 4th quarter. Invesco Ltd. now owns 2,097,624 shares of the company’s stock worth $251,589,000 after buying an additional 318,018 shares during the last quarter. Institutional investors 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.