Lincoln Electric (NASDAQ:LECO) Hits New 52-Week High – Time to Buy?

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $258.87 and last traded at $255.82, with a volume of 345020 shares. The stock had previously closed at $251.14.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LECO shares. Zacks Research cut shares of Lincoln Electric from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Barclays boosted their price target on 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 reissued a “buy (b-)” rating on shares of Lincoln Electric in a report on Wednesday, October 8th. Stifel Nicolaus reduced their target price on Lincoln Electric from $265.00 to $252.00 and set a “hold” rating for the company in a report on Tuesday, December 16th. Finally, Wall Street Zen downgraded Lincoln Electric from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.50.

Lincoln Electric Price Performance

The company has a current ratio of 1.71, a quick ratio of 1.07 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $241.35 and a 200-day simple moving average of $236.84. The stock has a market cap of $14.51 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 1.65 and a beta of 1.26.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, October 30th. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 40.33% and a net margin of 12.56%.Lincoln Electric’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.14 earnings per share. As a group, equities research analysts expect that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its stake in Lincoln Electric by 8.6% during the first quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock valued at $468,000 after acquiring an additional 197 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Lincoln Electric by 553.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 963 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Lincoln Electric by 8.9% during the first quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock valued at $68,582,000 after purchasing an additional 29,505 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Lincoln Electric by 8.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company’s stock valued at $26,017,000 after purchasing an additional 10,961 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds 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.