Lincoln Electric (NASDAQ:LECO) Given New $230.00 Price Target at KeyCorp

Lincoln Electric (NASDAQ:LECO) had its target price raised by investment analysts at KeyCorp from $210.00 to $230.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective points to a potential upside of 11.60% from the company’s previous close.

Other research analysts also recently issued reports about the company. Stifel Nicolaus raised their price target on Lincoln Electric from $184.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. StockNews.com downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Robert W. Baird decreased their price objective on shares of Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $220.00.

Lincoln Electric Stock Down 0.7 %

NASDAQ:LECO opened at $206.10 on Thursday. The company has a market cap of $11.63 billion, a PE ratio of 24.59, a PEG ratio of 1.60 and a beta of 1.14. The stock has a 50-day simple moving average of $194.37 and a 200 day simple moving average of $197.50. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.20 and a current ratio of 1.85. Lincoln Electric has a 52-week low of $169.51 and a 52-week high of $261.13.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.05 by $0.09. Lincoln Electric had a net margin of 11.93% and a return on equity of 40.03%. The business had revenue of $983.76 million during the quarter, compared to analysts’ expectations of $988.07 million. During the same quarter in the prior year, the company posted $2.40 earnings per share. The firm’s revenue was down 4.8% on a year-over-year basis. On average, sell-side analysts expect that Lincoln Electric will post 8.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lincoln Electric news, SVP Michael J. Whitehead sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $175.96, for a total value of $193,556.00. Following the completion of the transaction, the senior vice president now directly owns 11,178 shares in the company, valued at approximately $1,966,880.88. This represents a 8.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Lincoln Electric

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in Lincoln Electric by 174.4% in the first quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock valued at $27,000 after buying an additional 68 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Lincoln Electric in the second quarter valued at $28,000. UMB Bank n.a. boosted its holdings in Lincoln Electric by 97.9% in the 3rd quarter. UMB Bank n.a. now owns 283 shares of the industrial products company’s stock worth $54,000 after buying an additional 140 shares during the period. Quarry LP boosted its position in shares of Lincoln Electric by 41.5% in the second quarter. Quarry LP now owns 300 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 88 shares during the period. Finally, Blue Trust Inc. increased its stake in Lincoln Electric by 308.5% in the 3rd quarter. Blue Trust Inc. now owns 335 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 253 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.