ESAB (NYSE:ESAB) Given New $143.00 Price Target at Stifel Nicolaus

ESAB (NYSE:ESAB) had its target price raised by investment analysts at Stifel Nicolaus from $141.00 to $143.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 24.61% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Zacks Research downgraded shares of ESAB from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. UBS Group increased their target price on shares of ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Wall Street Zen upgraded shares of ESAB from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of ESAB in a research report on Monday, December 8th. Finally, Roth Capital began coverage on ESAB in a research note on Friday, September 5th. They set a “buy” rating and a $150.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $141.50.

ESAB Stock Performance

Shares of ESAB stock traded down $0.69 on Tuesday, hitting $114.76. 55,485 shares of the stock were exchanged, compared to its average volume of 378,011. ESAB has a one year low of $100.17 and a one year high of $135.84. The firm’s 50 day moving average is $114.54 and its two-hundred day moving average is $117.78. The firm has a market capitalization of $6.97 billion, a PE ratio of 28.91, a P/E/G ratio of 2.25 and a beta of 1.24. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.62.

ESAB (NYSE:ESAB) last issued its earnings results on Wednesday, October 29th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. ESAB had a net margin of 8.70% and a return on equity of 15.93%. The business had revenue of $727.85 million for the quarter, compared to analysts’ expectations of $663.57 million. During the same quarter in the previous year, the firm posted $1.25 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. Sell-side analysts expect that ESAB will post 5.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ESAB. First Citizens Bank & Trust Co. lifted its stake in ESAB by 266.0% in the second quarter. First Citizens Bank & Trust Co. now owns 7,861 shares of the company’s stock worth $948,000 after acquiring an additional 5,713 shares during the period. Advantage Alpha Capital Partners LP lifted its holdings in ESAB by 56.4% in the second quarter. Advantage Alpha Capital Partners LP now owns 26,644 shares of the company’s stock worth $3,212,000 after buying an additional 9,608 shares during the period. Fifth Third Bancorp boosted its position in ESAB by 159.9% during the 2nd quarter. Fifth Third Bancorp now owns 3,667 shares of the company’s stock valued at $442,000 after acquiring an additional 2,256 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in shares of ESAB by 5.9% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,043,843 shares of the company’s stock worth $246,385,000 after acquiring an additional 114,744 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of ESAB by 82.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 39,739 shares of the company’s stock valued at $4,791,000 after purchasing an additional 17,911 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

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.