Lincoln Electric (NASDAQ:LECO) Price Target Raised to $253.00 at Stifel Nicolaus

Lincoln Electric (NASDAQ:LECO) had its price target upped by Stifel Nicolaus from $252.00 to $253.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective points to a potential downside of 1.78% from the stock’s previous close.

Several other equities research analysts have also commented on LECO. Zacks Research lowered shares of Lincoln Electric from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Barclays lifted their target price on shares of Lincoln Electric from $235.00 to $260.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lincoln Electric in a research report on Wednesday, October 8th. Roth Mkm set a $285.00 price objective on shares of Lincoln Electric and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Wall Street Zen lowered Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.67.

Lincoln Electric Price Performance

Shares of LECO traded down $1.60 during trading hours on Friday, reaching $257.59. The company had a trading volume of 9,983 shares, compared to its average volume of 297,300. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 1.62 and a beta of 1.26. Lincoln Electric has a 12-month low of $161.11 and a 12-month high of $264.87. The firm has a 50 day simple moving average of $243.67 and a 200-day simple moving average of $238.10. The company has a current ratio of 1.71, a quick ratio of 1.07 and a debt-to-equity ratio of 0.81.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, October 30th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.08. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Lincoln Electric had a net margin of 12.56% and a return on equity of 40.33%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $2.14 earnings per share. Research analysts expect that Lincoln Electric will post 9.36 earnings per share for the current year.

Hedge Funds Weigh In On Lincoln Electric

Large investors have recently bought and sold shares of the stock. Oak Thistle LLC purchased a new position in shares of Lincoln Electric in the 3rd quarter worth $1,020,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Lincoln Electric by 216.1% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 53,945 shares of the industrial products company’s stock valued at $11,184,000 after buying an additional 36,878 shares in the last quarter. Congress Asset Management Co. raised its holdings in shares of Lincoln Electric by 13.0% during the 3rd quarter. Congress Asset Management Co. now owns 86,305 shares of the industrial products company’s stock valued at $20,353,000 after buying an additional 9,897 shares during the period. Cerity Partners LLC raised its stake in shares of Lincoln Electric by 10.3% during the second quarter. Cerity Partners LLC now owns 106,746 shares of the industrial products company’s stock valued at $22,131,000 after purchasing an additional 9,974 shares during the period. Finally, Boston Partners acquired a new position in shares of Lincoln Electric during the second quarter worth $141,550,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.