Morgan Stanley Increases Lincoln Electric (NASDAQ:LECO) Price Target to $253.00

Lincoln Electric (NASDAQ:LECO) had its target price increased by research analysts at Morgan Stanley from $250.00 to $253.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the industrial products company’s stock. Morgan Stanley’s price target suggests a potential downside of 0.57% from the company’s current price.

A number of other equities research analysts have also issued reports on LECO. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research report on Friday, May 1st. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. DA Davidson assumed coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price target for the company. Finally, Barclays increased their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $299.38.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO traded down $4.86 on Friday, reaching $254.46. The company’s stock had a trading volume of 118,850 shares, compared to its average volume of 362,640. The company has a 50-day simple moving average of $261.98 and a 200 day simple moving average of $263.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83. Lincoln Electric has a 52-week low of $216.22 and a 52-week high of $310.00. The company has a market cap of $13.94 billion, a P/E ratio of 26.29, a PEG ratio of 1.56 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities research analysts anticipate that Lincoln Electric will post 10.82 EPS for the current fiscal year.

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LECO. Elyxium Wealth LLC acquired a new position in shares of Lincoln Electric during the fourth quarter valued at approximately $27,000. Summit Securities Group LLC purchased a new stake in shares of Lincoln Electric during the fourth quarter worth approximately $46,000. Geneos Wealth Management Inc. raised its stake in Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 255 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Lincoln Electric in the 4th quarter valued at $64,000. Finally, United Community Bank acquired a new stake in Lincoln Electric during the 4th quarter worth $65,000. 79.61% of the stock is owned by hedge funds and other institutional investors.

Lincoln Electric Company Profile

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.