ESAB Corporation (NYSE:ESAB) Receives $141.33 Consensus Target Price from Analysts

Shares of ESAB Corporation (NYSE:ESAB) have earned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $139.3333.

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday. Wall Street Zen cut shares of ESAB from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Jefferies Financial Group reissued a “buy” rating and set a $130.00 price objective (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Weiss Ratings cut shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Finally, Oppenheimer raised their price objective on shares of ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd.

Insider Activity at ESAB

In other news, CEO Shyam Kambeyanda sold 59,404 shares of ESAB stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total value of $7,353,621.16. Following the transaction, the chief executive officer directly owned 99,864 shares of the company’s stock, valued at $12,362,164.56. The trade was a 37.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On ESAB

A number of institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its holdings in shares of ESAB by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company’s stock valued at $894,457,000 after acquiring an additional 45,841 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of ESAB by 11.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company’s stock valued at $653,864,000 after acquiring an additional 613,327 shares during the period. Durable Capital Partners LP increased its holdings in shares of ESAB by 40.5% in the 3rd quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock valued at $217,430,000 after acquiring an additional 560,678 shares during the period. Geode Capital Management LLC grew its position in ESAB by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,318,269 shares of the company’s stock valued at $147,300,000 after buying an additional 16,466 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in ESAB by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,181,526 shares of the company’s stock valued at $132,008,000 after buying an additional 35,782 shares during the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Trading Up 0.5%

NYSE:ESAB opened at $102.15 on Thursday. The firm has a market cap of $6.22 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 1.88 and a beta of 1.36. The stock has a fifty day moving average price of $112.22 and a 200 day moving average price of $114.22. ESAB has a 12-month low of $89.41 and a 12-month high of $137.42. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.56.

ESAB (NYSE:ESAB) last issued its earnings results on Friday, February 20th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.01. The firm had revenue of $687.00 million for the quarter, compared to analysts’ expectations of $687.80 million. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 earnings per share. Sell-side analysts anticipate that ESAB will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Thursday, April 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, April 2nd. ESAB’s payout ratio is presently 10.81%.

About ESAB

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.