Analysts Set ESAB Corporation (NYSE:ESAB) PT at $141.33

ESAB Corporation (NYSE:ESAB) has received an average rating of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $138.4444.

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, April 10th. Weiss Ratings cut shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Oppenheimer restated an “outperform” rating and set a $140.00 target price on shares of ESAB in a research report on Tuesday. Roth Mkm restated a “buy” rating and set a $146.00 target price (down from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $130.00 target price (down from $150.00) on shares of ESAB in a research report on Tuesday, March 31st.

ESAB Stock Down 2.9%

ESAB opened at $101.14 on Thursday. The firm has a 50-day simple moving average of $111.42 and a two-hundred day simple moving average of $114.08. ESAB has a 52 week low of $89.41 and a 52 week high of $137.42. The company has a market capitalization of $6.16 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 1.93 and a beta of 1.36. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.56.

ESAB (NYSE:ESAB) last announced its earnings results on Friday, February 20th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.01. The firm had revenue of $687.00 million for the quarter, compared to analysts’ expectations of $687.80 million. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 EPS. Analysts forecast that ESAB will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, April 2nd. ESAB’s dividend payout ratio is currently 10.81%.

Insider Activity

In other news, CEO Shyam Kambeyanda sold 59,404 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the sale, the chief executive officer directly owned 99,864 shares in the company, valued at approximately $12,362,164.56. This represents a 37.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of ESAB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESAB. Thrivent Financial for Lutherans increased its holdings in ESAB by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock valued at $1,617,000 after buying an additional 95 shares during the period. Xponance Inc. increased its holdings in ESAB by 1.6% during 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. Public Employees Retirement System of Ohio increased its holdings in ESAB by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock valued at $2,191,000 after buying an additional 107 shares during the period. Coldstream Capital Management Inc. increased its holdings in ESAB by 5.9% during the third quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock valued at $300,000 after buying an additional 149 shares during the period. Finally, Lafayette Investments Inc. increased its holdings in ESAB by 0.5% during the fourth quarter. Lafayette Investments Inc. now owns 34,266 shares of the company’s stock valued at $3,828,000 after buying an additional 161 shares during the period. 91.13% of the stock is owned by hedge funds and other institutional investors.

About ESAB

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.