ESAB Co. (NYSE:ESAB) Receives $93.75 Consensus Target Price from Brokerages

Shares of ESAB Co. (NYSE:ESAB) have been given an average rating of “Moderate Buy” by the eight analysts that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $93.75.

A number of equities analysts recently issued reports on ESAB shares. Stifel Nicolaus upped their price objective on shares of ESAB from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. upgraded shares of ESAB from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $111.00 to $125.00 in a research report on Monday, March 18th. Finally, Evercore ISI upped their price objective on shares of ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 5th.

Insider Transactions at ESAB

In other news, Director Christopher M. Hix sold 7,465 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the completion of the sale, the director now directly owns 33,863 shares in the company, valued at $3,361,918.64. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Christopher M. Hix sold 7,465 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the transaction, the director now directly owns 33,863 shares of the company’s stock, valued at $3,361,918.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rajiv Vinnakota sold 856 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total transaction of $85,172.00. Following the transaction, the director now directly owns 6,779 shares in the company, valued at $674,510.50. The disclosure for this sale can be found here. Insiders sold a total of 10,833 shares of company stock worth $1,074,985 over the last three months. 7.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. lifted its stake in shares of ESAB by 57.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock valued at $36,000 after buying an additional 154 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of ESAB during the fourth quarter valued at about $39,000. Huntington National Bank lifted its position in shares of ESAB by 55.5% during the third quarter. Huntington National Bank now owns 647 shares of the company’s stock valued at $45,000 after purchasing an additional 231 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of ESAB during the second quarter valued at about $46,000. Finally, Raleigh Capital Management Inc. lifted its position in shares of ESAB by 23.4% during the third quarter. Raleigh Capital Management Inc. now owns 811 shares of the company’s stock valued at $57,000 after purchasing an additional 154 shares in the last quarter. 91.13% of the stock is owned by institutional investors.

ESAB Stock Up 0.0 %

Shares of ESAB opened at $107.58 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.98 and a current ratio of 1.61. The firm has a market cap of $6.50 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 2.20 and a beta of 1.54. ESAB has a 52 week low of $55.37 and a 52 week high of $114.77. The firm’s 50-day simple moving average is $101.59 and its 200 day simple moving average is $86.87.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, February 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The firm had revenue of $689.40 million during the quarter, compared to the consensus estimate of $644.51 million. ESAB had a net margin of 7.40% and a return on equity of 17.57%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 EPS. On average, analysts forecast that ESAB will post 4.82 earnings per share for the current year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Wednesday, March 27th. ESAB’s dividend payout ratio (DPR) is presently 7.14%.

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.