ESAB Co. (NYSE:ESAB) Given Consensus Recommendation of “Hold” by Brokerages

ESAB Co. (NYSE:ESAB) has been assigned an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $124.14.

Several research analysts have recently weighed in on the company. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Bank of America raised their target price on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Oppenheimer reaffirmed an “outperform” rating and set a $144.00 target price (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Finally, Loop Capital increased their price target on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th.

Insider Transactions at ESAB

In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the transaction, the chief executive officer now directly owns 53,902 shares in the company, valued at $6,627,789.92. This represents a 52.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin J. Johnson sold 5,044 shares of ESAB stock in a transaction on Tuesday, October 29th. The shares were 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 30.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,418 shares of company stock worth $8,431,773. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC increased its stake in ESAB by 12.5% during the 3rd quarter. Tidal Investments LLC now owns 4,409 shares of the company’s stock worth $469,000 after buying an additional 490 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of ESAB during the third quarter worth $274,000. Geode Capital Management LLC raised its stake in shares of ESAB by 19.7% in the third quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company’s stock valued at $123,353,000 after acquiring an additional 190,583 shares in the last quarter. Adalta Capital Management LLC boosted its holdings in ESAB by 116.0% in the third quarter. Adalta Capital Management LLC now owns 2,160 shares of the company’s stock valued at $230,000 after purchasing an additional 1,160 shares during the period. Finally, Barclays PLC grew its stake in ESAB by 46.7% during the 3rd quarter. Barclays PLC now owns 31,513 shares of the company’s stock worth $3,349,000 after purchasing an additional 10,027 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Stock Up 0.6 %

NYSE ESAB opened at $129.08 on Monday. The business has a fifty day moving average price of $116.95 and a 200 day moving average price of $104.99. 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 $7.80 billion, a P/E ratio of 30.23, a P/E/G ratio of 2.26 and a beta of 1.37. ESAB has a one year low of $76.08 and a one year high of $135.97.

ESAB (NYSE:ESAB) last issued its earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13. The business had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share. Research analysts anticipate that ESAB will post 4.94 EPS for the current fiscal year.

ESAB Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Friday, September 27th. ESAB’s dividend payout ratio (DPR) is 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.