ESAB (NYSE:ESAB) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer began coverage on shares of ESAB (NYSE:ESAB) in a research report issued on Thursday, Briefing.com reports. The firm set an “outperform” rating and a $115.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 20.51% from the stock’s current price.

Several other equities analysts have also recently weighed in on ESAB. JPMorgan Chase & Co. raised shares of ESAB from a “neutral” rating to an “overweight” rating and raised their target price for the company from $111.00 to $125.00 in a research note on Monday, March 18th. Evercore ISI lifted their price objective on shares of ESAB from $93.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus lifted their price objective on shares of ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $98.63.

ESAB Stock Up 1.6 %

Shares of ESAB stock opened at $95.43 on Thursday. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 1.69 and a beta of 1.48. The company’s fifty day moving average price is $103.60 and its 200-day moving average price is $96.74. ESAB has a one year low of $61.43 and a one year high of $114.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.65 and a quick ratio of 1.01.

ESAB (NYSE:ESAB) last posted its earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.09. The company had revenue of $690.00 million during the quarter, compared to analysts’ expectations of $653.93 million. ESAB had a net margin of 8.39% and a return on equity of 17.59%. ESAB’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company posted $1.04 earnings per share. Sell-side analysts expect that ESAB will post 4.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ESAB. Whittier Trust Co. raised its stake in shares of ESAB by 302.6% during the 1st quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after acquiring an additional 236 shares in the last quarter. ORG Partners LLC bought a new position in shares of ESAB during the 1st quarter worth approximately $35,000. Nomura Asset Management Co. Ltd. grew its position in ESAB by 57.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock worth $36,000 after purchasing an additional 154 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in ESAB during the 4th quarter worth approximately $39,000. Finally, Raleigh Capital Management Inc. increased its stake in ESAB by 23.4% during the 3rd 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. 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.