JPMorgan Chase & Co. Boosts ESAB (NYSE:ESAB) Price Target to $128.00

ESAB (NYSE:ESAB) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $120.00 to $128.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 20.88% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus cut their target price on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Bank of America lifted 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. Oppenheimer initiated coverage on shares of ESAB in a research report on Thursday, June 20th. They set an “outperform” rating and a $115.00 target price for the company. Finally, Evercore ISI cut their price target on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

ESAB Stock Down 0.6 %

Shares of NYSE:ESAB traded down $0.62 during trading hours on Monday, hitting $105.89. The company’s stock had a trading volume of 47,789 shares, compared to its average volume of 246,867. The firm’s fifty day moving average price is $99.92 and its 200 day moving average price is $101.72. ESAB has a 52 week low of $61.43 and a 52 week high of $114.77. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 1.84 and a beta of 1.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.21.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Friday, August 2nd. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $707.10 million during the quarter, compared to the consensus estimate of $686.75 million. ESAB had a net margin of 9.06% and a return on equity of 17.49%. ESAB’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 earnings per share. As a group, research analysts expect that ESAB will post 4.84 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of ESAB during the first quarter valued at $3,913,000. Allspring Global Investments Holdings LLC lifted its position in ESAB by 6.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 402,903 shares of the company’s stock worth $44,549,000 after acquiring an additional 23,825 shares during the period. Russell Investments Group Ltd. grew its stake in ESAB by 37.7% during the 1st quarter. Russell Investments Group Ltd. now owns 116,097 shares of the company’s stock valued at $12,836,000 after purchasing an additional 31,780 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of ESAB by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock worth $710,316,000 after purchasing an additional 653,377 shares during the period. Finally, Champlain Investment Partners LLC purchased a new stake in ESAB in the first quarter valued at approximately $33,811,000. Hedge funds and other 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.