Brokerages Set ESAB Co. (NYSE:ESAB) PT at $98.63

ESAB Co. (NYSE:ESAB) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $98.63.

ESAB has been the subject of a number of research reports. Oppenheimer assumed coverage on ESAB in a research note on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price target for the company. Evercore ISI lifted their price target on ESAB from $93.00 to $100.00 and gave the company an “in-line” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. raised ESAB from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $111.00 to $125.00 in a research note on Monday, March 18th.

ESAB Price Performance

Shares of ESAB stock opened at $94.43 on Friday. ESAB has a twelve month low of $61.43 and a twelve month high of $114.77. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $101.93 and a 200 day simple moving average of $97.53. The company has a market cap of $5.71 billion, a P/E ratio of 24.72, a P/E/G ratio of 1.64 and a beta of 1.48.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09. The company had revenue of $690.00 million for the quarter, compared to analyst estimates of $653.93 million. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 EPS. On average, sell-side analysts forecast that ESAB will post 4.91 EPS for the current fiscal year.

ESAB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from ESAB’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 0.34%. ESAB’s dividend payout ratio is presently 6.28%.

Institutional Investors Weigh In On ESAB

Large investors have recently modified their holdings of the company. Whittier Trust Co. lifted its stake in ESAB by 302.6% in the first quarter. Whittier Trust Co. now owns 314 shares of the company’s stock valued at $35,000 after buying an additional 236 shares during the period. ORG Partners LLC acquired a new stake in ESAB in the first quarter worth $35,000. Nomura Asset Management Co. Ltd. increased its stake in 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 purchasing an additional 154 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of ESAB during the fourth quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. boosted its position in shares of ESAB by 23.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 811 shares of the company’s stock worth $57,000 after purchasing an additional 154 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

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.