Brokerages Set ESAB Corporation (NYSE:ESAB) Target Price at $139.88

Shares of ESAB Corporation (NYSE:ESAB) have earned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $139.8750.

A number of equities analysts have commented on ESAB shares. Weiss Ratings lowered ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $130.00 price objective (down from $150.00) on shares of ESAB in a research note on Tuesday, March 31st. Oppenheimer restated an “outperform” rating and set a $140.00 target price on shares of ESAB in a report on Tuesday, April 14th. JPMorgan Chase & Co. dropped their price target on ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Finally, Roth Mkm set a $142.00 target price on ESAB in a research note on Thursday, April 16th.

ESAB Stock Down 0.8%

NYSE ESAB opened at $88.36 on Friday. The firm has a 50-day simple moving average of $96.68 and a 200 day simple moving average of $109.06. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.26 and a current ratio of 2.97. The stock has a market cap of $5.38 billion, a PE ratio of 26.14, a PEG ratio of 1.63 and a beta of 1.19. ESAB has a twelve month low of $83.17 and a twelve month high of $137.42.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $745.60 million during the quarter, compared to the consensus estimate of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.ESAB’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. On average, research analysts forecast that ESAB will post 5.81 EPS for the current year.

ESAB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, July 3rd will be given a $0.12 dividend. This is an increase from ESAB’s previous quarterly dividend of $0.10. 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. ESAB’s dividend payout ratio (DPR) is presently 11.83%.

Hedge Funds Weigh In On ESAB

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its position in ESAB by 29.4% during the first quarter. Royal Bank of Canada now owns 51,867 shares of the company’s stock worth $6,042,000 after buying an additional 11,772 shares during the last quarter. Millennium Management LLC bought a new stake in ESAB in the 1st quarter valued at $10,616,000. Goldman Sachs Group Inc. lifted its holdings in ESAB by 25.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 458,339 shares of the company’s stock valued at $53,396,000 after purchasing an additional 94,335 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of ESAB by 109.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after purchasing an additional 174 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of ESAB by 183.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the company’s stock worth $117,000 after buying an additional 629 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

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.