Lincoln Electric (NASDAQ:LECO) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Friday, MarketBeat.com reports. The firm currently has a $100.00 price objective on the industrial products company’s stock, up from their previous price objective of $93.00. Robert W. Baird’s price objective would indicate a potential upside of 19.70% from the stock’s previous close.
A number of other research analysts have also weighed in on the stock. BidaskClub lowered shares of Waterstone Financial from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Zacks Investment Research lowered shares of First Merchants from a “hold” rating to a “sell” rating in a report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $95.56.
LECO stock opened at $83.54 on Friday. The firm has a fifty day simple moving average of $79.61. Lincoln Electric has a fifty-two week low of $72.28 and a fifty-two week high of $97.93. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.56 and a current ratio of 2.27. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.45 and a beta of 1.25.
Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Monday, April 22nd. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). Lincoln Electric had a net margin of 9.83% and a return on equity of 35.14%. The business had revenue of $759.17 million during the quarter, compared to analysts’ expectations of $767.41 million. During the same period last year, the business posted $1.10 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts anticipate that Lincoln Electric will post 5.09 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Welch & Forbes LLC raised its holdings in shares of Lincoln Electric by 2.4% in the second quarter. Welch & Forbes LLC now owns 112,268 shares of the industrial products company’s stock valued at $9,242,000 after acquiring an additional 2,620 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Lincoln Electric by 5.9% in the second quarter. Nisa Investment Advisors LLC now owns 18,069 shares of the industrial products company’s stock valued at $1,487,000 after acquiring an additional 1,000 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO bought a new stake in shares of Lincoln Electric in the second quarter valued at about $749,000. Retirement Systems of Alabama raised its holdings in shares of Lincoln Electric by 2.1% in the second quarter. Retirement Systems of Alabama now owns 164,010 shares of the industrial products company’s stock valued at $13,501,000 after acquiring an additional 3,324 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Lincoln Electric by 34,326.9% in the first quarter. FMR LLC now owns 140,806 shares of the industrial products company’s stock valued at $11,810,000 after acquiring an additional 140,397 shares in the last quarter. 72.02% of the stock is owned by institutional investors.
Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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