Analysts Set ESAB Co. (NYSE:ESAB) Price Target at $133.43

Shares of ESAB Co. (NYSE:ESAB) have earned a consensus rating of “Hold” from the seven brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $133.43.

ESAB has been the topic of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of ESAB in a report on Thursday, December 12th. They set a “buy” rating and a $160.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Stifel Nicolaus downgraded ESAB from a “buy” rating to a “hold” rating and lowered their target price for the company from $138.00 to $130.00 in a report on Monday, November 18th. Oppenheimer restated an “outperform” rating and set a $144.00 price target (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Finally, Evercore ISI downgraded shares of ESAB from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th.

Insider Transactions at ESAB

In other news, CEO Shyam Kambeyanda sold 59,120 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total value of $7,269,395.20. Following the sale, the chief executive officer now directly owns 53,902 shares in the company, valued at approximately $6,627,789.92. This represents a 52.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rhonda L. Jordan sold 4,254 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total value of $531,877.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,418 shares of company stock worth $8,431,773. 7.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of ESAB by 55.9% in the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after buying an additional 147 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in ESAB in the second quarter valued at approximately $42,000. Quest Partners LLC grew its holdings in ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock worth $65,000 after purchasing an additional 607 shares during the last quarter. Blue Trust Inc. increased its position in shares of ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after purchasing an additional 529 shares in the last quarter. Finally, Millburn Ridgefield Corp acquired a new stake in shares of ESAB in the 3rd quarter worth $77,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Trading Down 1.2 %

Shares of NYSE ESAB opened at $120.67 on Friday. The firm’s 50 day moving average price is $123.91 and its 200-day moving average price is $107.63. ESAB has a 52-week low of $82.44 and a 52-week high of $135.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92. The company has a market cap of $7.29 billion, a PE ratio of 28.26, a P/E/G ratio of 2.25 and a beta of 1.34.

ESAB (NYSE:ESAB) last issued its earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.12 by $0.13. The business had revenue of $673.00 million for the quarter, compared to the consensus estimate of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $1.08 EPS. On average, equities research analysts expect that ESAB will post 4.94 EPS for the current fiscal year.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. ESAB’s dividend payout ratio (DPR) is presently 7.49%.

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.