Brokerages Set ESAB Corporation (NYSE:ESAB) PT at $139.50

Shares of ESAB Corporation (NYSE:ESAB) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $138.3750.

Several research firms have recently weighed in on ESAB. Stifel Nicolaus lowered their price objective on shares of ESAB from $141.00 to $137.00 and set a “buy” rating for the company in a research note on Monday. Oppenheimer cut their target price on shares of ESAB from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, April 10th. Weiss Ratings downgraded shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $130.00 price objective (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ESAB. FNY Investment Advisers LLC bought a new position in ESAB in the third quarter worth approximately $30,000. Los Angeles Capital Management LLC bought a new stake in shares of ESAB during the fourth quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after acquiring an additional 174 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of ESAB by 259.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of ESAB by 3,023.1% during the fourth quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after purchasing an additional 393 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Trading Up 1.1%

Shares of ESAB stock opened at $84.60 on Friday. ESAB has a fifty-two week low of $82.18 and a fifty-two week high of $137.42. 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 50 day simple moving average of $92.04 and a two-hundred day simple moving average of $104.27. The company has a market cap of $5.15 billion, a P/E ratio of 25.03, a PEG ratio of 1.56 and a beta of 1.17.

ESAB (NYSE:ESAB) last posted its quarterly earnings results 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). The business had revenue of $745.60 million for 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 quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. Research analysts forecast that ESAB will post 5.72 earnings per share for the current year.

ESAB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were paid a $0.12 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. This is a boost from ESAB’s previous quarterly dividend of $0.10. ESAB’s dividend payout ratio (DPR) is 14.20%.

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.