ESAB Corporation (NYSE:ESAB) Receives $137.89 Consensus Price Target from Brokerages

Shares of ESAB Corporation (NYSE:ESAB) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $138.2222.

ESAB has been the topic of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of ESAB in a research report on Tuesday, April 14th. DA Davidson cut their price objective on shares of ESAB from $146.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Weiss Ratings downgraded shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Roth Mkm set a $142.00 price objective on shares of ESAB in a research report on Thursday, April 16th. Finally, Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st.

ESAB Stock Up 0.1%

Shares of ESAB stock opened at $101.01 on Monday. The firm’s 50 day moving average price is $103.16 and its 200-day moving average price is $112.59. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91. ESAB has a 52-week low of $89.41 and a 52-week high of $137.42. The company has a market cap of $6.15 billion, a P/E ratio of 29.88, a PEG ratio of 1.88 and a beta of 1.24.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). ESAB had a return on equity of 15.04% and a net margin of 7.11%.The firm had revenue of $745.60 million during the quarter, compared to analysts’ expectations of $706.74 million. During the same period in the previous year, the firm earned $1.25 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that ESAB will post 5.79 EPS for the current fiscal year.

ESAB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, July 2nd. This is an increase from ESAB’s previous quarterly dividend of $0.10. ESAB’s payout ratio is presently 11.83%.

Insider Buying and Selling

In related news, CEO Shyam Kambeyanda sold 59,404 shares of ESAB stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total value of $7,353,621.16. Following the completion of the sale, the chief executive officer directly owned 99,864 shares in the company, valued at $12,362,164.56. This trade represents a 37.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.20% of the stock is owned by company insiders.

Institutional Trading of ESAB

A number of institutional investors have recently bought and sold shares of ESAB. Royal Bank of Canada boosted its stake in ESAB by 29.4% in the 1st quarter. Royal Bank of Canada now owns 51,867 shares of the company’s stock worth $6,042,000 after purchasing an additional 11,772 shares in the last quarter. Millennium Management LLC acquired a new stake in ESAB in the 1st quarter worth approximately $10,616,000. Goldman Sachs Group Inc. boosted its stake in ESAB by 25.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 458,339 shares of the company’s stock worth $53,396,000 after purchasing an additional 94,335 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after purchasing an additional 174 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in ESAB by 183.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the company’s stock worth $117,000 after purchasing an additional 629 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

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.