ESAB Co. (NYSE:ESAB) Given Average Rating of “Moderate Buy” by Analysts

Shares of ESAB Co. (NYSE:ESAB) have been given an average rating of “Moderate Buy” by the seven brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $119.00.

Several equities research analysts recently weighed in on ESAB shares. JPMorgan Chase & Co. lifted their price target on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Oppenheimer restated an “outperform” rating and set a $138.00 price target (up from $122.00) on shares of ESAB in a research report on Wednesday, October 30th. Loop Capital lifted their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Bank of America lifted their price target on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Stifel Nicolaus lowered their price objective on ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, July 18th.

Insider Transactions at ESAB

In other news, Director Rhonda L. Jordan sold 4,254 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin J. Johnson sold 5,044 shares of ESAB stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $630,500.00. Following the completion of the sale, the chief financial officer now directly owns 11,433 shares of the company’s stock, valued at $1,429,125. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,418 shares of company stock worth $8,431,773 over the last quarter. 7.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ESAB

A number of hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in 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 valued at $710,316,000 after purchasing an additional 653,377 shares during the period. DAVENPORT & Co LLC raised its holdings in shares of ESAB by 5.5% in the first quarter. DAVENPORT & Co LLC now owns 811,679 shares of the company’s stock worth $89,422,000 after buying an additional 42,099 shares during the period. TD Asset Management Inc raised its holdings in shares of ESAB by 5.4% in the second quarter. TD Asset Management Inc now owns 531,122 shares of the company’s stock worth $50,154,000 after buying an additional 27,202 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of ESAB by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 490,532 shares of the company’s stock worth $46,321,000 after buying an additional 21,025 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of ESAB by 7.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 466,517 shares of the company’s stock worth $49,595,000 after buying an additional 34,161 shares during the period. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Price Performance

ESAB opened at $122.51 on Thursday. The stock’s 50 day simple moving average is $106.45 and its 200 day simple moving average is $102.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.21. ESAB has a 1 year low of $73.35 and a 1 year high of $127.33. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 2.11 and a beta of 1.37.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. The firm had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $1.08 EPS. As a group, analysts predict that ESAB will post 4.9 earnings per share for the current year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, September 27th. ESAB’s dividend payout ratio is currently 7.49%.

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.