Oppenheimer Increases ESAB (NYSE:ESAB) Price Target to $122.00

ESAB (NYSE:ESAB) had its price objective lifted by equities researchers at Oppenheimer from $115.00 to $122.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 9.43% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI dropped their price objective on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Stifel Nicolaus cut their price objective on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 18th. 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. Finally, JPMorgan Chase & Co. raised their target price on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.17.

ESAB Trading Up 0.4 %

NYSE ESAB opened at $111.49 on Tuesday. ESAB has a 1 year low of $61.43 and a 1 year high of $114.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.21. The company has a market capitalization of $6.74 billion, a PE ratio of 29.19, a P/E/G ratio of 1.81 and a beta of 1.42. The company has a fifty day moving average of $103.54 and a 200 day moving average of $101.71.

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

Institutional Trading of ESAB

A number of institutional investors and hedge funds have recently modified their holdings of ESAB. Whittier Trust Co. increased its stake in ESAB by 302.6% during the 1st quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after buying an additional 236 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of ESAB during the first quarter worth approximately $35,000. GAMMA Investing LLC increased its position in shares of ESAB by 55.9% during the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in ESAB in the 2nd quarter valued at $42,000. Finally, Blue Trust Inc. raised its stake in ESAB by 629.8% in the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after purchasing an additional 529 shares during the last quarter. 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.