Analysts Set ESAB Co. (NYSE:ESAB) Target Price at $108.57

ESAB Co. (NYSE:ESAB) has received an average recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $108.57.

ESAB has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Stifel Nicolaus reduced their price target on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Oppenheimer started coverage on ESAB in a report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on ESAB from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Evercore ISI lowered their price target on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ESAB. Brown Advisory Inc. acquired a new stake in shares of ESAB in the fourth quarter valued at approximately $1,011,000. Trexquant Investment LP raised its holdings in shares of ESAB by 82.1% during the 4th quarter. Trexquant Investment LP now owns 53,457 shares of the company’s stock worth $4,630,000 after acquiring an additional 24,099 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of ESAB during the 1st quarter valued at about $3,913,000. Allspring Global Investments Holdings LLC grew its holdings in shares of ESAB by 6.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 402,903 shares of the company’s stock valued at $44,549,000 after purchasing an additional 23,825 shares during the period. Finally, Russell Investments Group Ltd. increased its position in ESAB by 37.7% during the first quarter. Russell Investments Group Ltd. now owns 116,097 shares of the company’s stock worth $12,836,000 after purchasing an additional 31,780 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

ESAB Stock Performance

NYSE ESAB opened at $98.86 on Wednesday. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.68 and a beta of 1.42. The stock has a 50-day moving average of $98.14 and a 200 day moving average of $101.25. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. ESAB has a twelve month low of $61.43 and a twelve month high of $114.77.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Friday, August 2nd. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The business had revenue of $707.10 million during the quarter, compared to analysts’ expectations of $686.75 million. During the same period in the previous year, the business earned $1.21 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. Sell-side analysts anticipate that ESAB will post 4.84 EPS for the current fiscal year.

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.