ESAB Co. (NYSE:ESAB) Receives Average Rating of “Hold” from Analysts

ESAB Co. (NYSE:ESAB) has been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $133.43.

ESAB has been the topic of a number of analyst reports. 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 note on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Stifel Nicolaus cut shares of ESAB from a “buy” rating to a “hold” rating and decreased their price target for the company from $138.00 to $130.00 in a research report on Monday, November 18th. Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. Finally, Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and raised their price target for the company from $102.00 to $122.00 in a research note on Wednesday, November 13th.

ESAB Stock Down 0.1 %

Shares of NYSE ESAB opened at $123.99 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $124.30 and a 200 day moving average of $111.37. ESAB has a 12-month low of $83.21 and a 12-month high of $135.97. The stock has a market cap of $7.49 billion, a PE ratio of 29.04, a P/E/G ratio of 1.84 and a beta of 1.37.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.12 by $0.13. The firm had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 earnings per share. As a group, sell-side analysts predict that ESAB will post 4.93 EPS for the current fiscal year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. ESAB’s dividend payout ratio is presently 7.49%.

Insider Transactions at ESAB

In other ESAB news, CFO Kevin J. Johnson sold 5,044 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total transaction of $630,500.00. Following the completion of the transaction, the chief financial officer now owns 11,433 shares in the company, valued at approximately $1,429,125. This represents a 30.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rhonda L. Jordan sold 4,254 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total transaction of $531,877.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,418 shares of company stock worth $8,431,773. Company insiders own 7.20% of the company’s stock.

Institutional Trading of ESAB

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ORG Wealth Partners LLC purchased a new position in ESAB in the 4th quarter valued at approximately $34,000. Trust Co. of Vermont raised its stake in 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 last quarter. GAMMA Investing LLC raised its position in shares of ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after buying an additional 147 shares during the last quarter. Quest Partners LLC lifted its stake in shares of ESAB by 12,140.0% during the 3rd quarter. Quest Partners LLC now owns 612 shares of the company’s stock worth $65,000 after purchasing an additional 607 shares during the period. Finally, Blue Trust Inc. lifted its position in ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after buying an additional 529 shares during the period. Institutional investors and hedge funds 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.