ESAB (NYSE:ESAB) Price Target Raised to $153.00

ESAB (NYSE:ESAB) had its price target hoisted by JPMorgan Chase & Co. from $130.00 to $153.00 in a report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently commented on ESAB. Weiss Ratings downgraded shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Wall Street Zen cut ESAB from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Oppenheimer boosted their price target on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Roth Mkm reissued a “buy” rating and set a $146.00 target price (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. Finally, Stifel Nicolaus upped their target price on shares of ESAB from $144.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

ESAB Trading Down 0.5%

Shares of NYSE:ESAB opened at $124.69 on Monday. The business’s 50 day moving average price is $121.48 and its 200-day moving average price is $116.48. ESAB has a 1 year low of $100.17 and a 1 year high of $137.42. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.31 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.24.

ESAB (NYSE:ESAB) last announced its earnings results on Friday, February 20th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.01. The business had revenue of $720.99 million during the quarter, compared to analysts’ expectations of $687.80 million. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 earnings per share. On average, equities research analysts forecast that ESAB will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, December 31st. ESAB’s payout ratio is currently 10.81%.

Insider Transactions at ESAB

In other ESAB news, CEO Shyam Kambeyanda sold 59,404 shares of ESAB stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $123.79, for a total value of $7,353,621.16. Following the sale, the chief executive officer owned 99,864 shares of the company’s stock, valued at approximately $12,362,164.56. The trade was a 37.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of ESAB

Several hedge funds and other institutional investors have recently bought and sold shares of ESAB. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of ESAB by 3.1% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,693 shares of the company’s stock worth $325,000 after purchasing an additional 81 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in ESAB by 0.7% in the second quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock valued at $1,617,000 after purchasing an additional 95 shares during the last quarter. State of Michigan Retirement System lifted its stake in ESAB by 0.7% in the second quarter. State of Michigan Retirement System now owns 13,702 shares of the company’s stock valued at $1,652,000 after buying an additional 100 shares during the period. Xponance Inc. lifted its stake in ESAB by 1.6% in the third quarter. Xponance Inc. now owns 6,488 shares of the company’s stock valued at $725,000 after buying an additional 102 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of ESAB by 4.4% during the 2nd quarter. ProShare Advisors LLC now owns 2,527 shares of the company’s stock worth $305,000 after buying an additional 106 shares during the period. 91.13% of the stock is owned by hedge funds and other institutional investors.

ESAB Company Profile

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.