Morgan Stanley Issues Positive Forecast for Lincoln Electric (NASDAQ:LECO) Stock Price

Lincoln Electric (NASDAQ:LECO) had its target price lifted by stock analysts at Morgan Stanley from $250.00 to $253.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the industrial products company’s stock. Morgan Stanley’s price target suggests a potential downside of 0.57% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Barclays upped their price objective on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research note on Friday, May 1st. Jefferies Financial Group reiterated a “hold” rating and issued a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Finally, Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lincoln Electric presently has a consensus rating of “Hold” and an average target price of $299.38.

Lincoln Electric Trading Down 1.9%

Shares of NASDAQ LECO traded down $4.86 during trading on Friday, hitting $254.46. 118,850 shares of the company were exchanged, compared to its average volume of 362,640. Lincoln Electric has a 12-month low of $216.22 and a 12-month high of $310.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83. The company has a fifty day moving average price of $261.98 and a 200-day moving average price of $263.20. The firm has a market capitalization of $13.94 billion, a PE ratio of 26.29, a P/E/G ratio of 1.56 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.08. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the business earned $2.16 earnings per share. Lincoln Electric’s revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts expect that Lincoln Electric will post 10.82 EPS for the current year.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On Lincoln Electric

Several institutional investors have recently added to or reduced their stakes in LECO. Elyxium Wealth LLC acquired a new position in Lincoln Electric in the fourth quarter valued at approximately $27,000. Summit Securities Group LLC purchased a new position in shares of Lincoln Electric in the 4th quarter valued at $46,000. Geneos Wealth Management Inc. grew its holdings in shares of Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 255 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Lincoln Electric in the fourth quarter valued at approximately $64,000. Finally, United Community Bank purchased a new position in Lincoln Electric during the 4th quarter worth $65,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.