ESAB Co. (NYSE:ESAB) Given Consensus Rating of “Hold” by Brokerages

ESAB Co. (NYSE:ESAB) has received an average recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $124.14.

A number of equities analysts have issued reports on ESAB shares. Oppenheimer reiterated an “outperform” rating and issued a $144.00 price objective (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. Loop Capital upped their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Stifel Nicolaus cut shares of ESAB from a “buy” rating to a “hold” rating and decreased their price objective for the company from $138.00 to $130.00 in a report on Monday, November 18th. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $102.00 to $122.00 in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th.

Insider Transactions at ESAB

In other ESAB news, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Shyam Kambeyanda sold 59,120 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the transaction, the chief executive officer now owns 53,902 shares of the company’s stock, valued at $6,627,789.92. This trade represents a 52.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,418 shares of company stock valued at $8,431,773 over the last three months. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On ESAB

Several institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. bought a new stake in shares of ESAB during the second quarter worth $42,000. GAMMA Investing LLC grew its holdings in ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of ESAB by 629.8% during the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after purchasing an additional 529 shares during the last quarter. Quest Partners LLC raised its stake in ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after buying an additional 607 shares during the last quarter. Finally, Millburn Ridgefield Corp purchased a new position in shares of ESAB in the 3rd quarter valued at approximately $77,000. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Up 1.7 %

Shares of ESAB stock opened at $127.54 on Monday. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 2.19 and a beta of 1.37. The company’s 50 day moving average price is $114.48 and its 200-day moving average price is $104.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92. ESAB has a 52-week low of $76.08 and a 52-week high of $135.97.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.13. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The business had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $620.50 million. During the same quarter in the previous year, the business posted $1.08 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts forecast that ESAB will post 4.94 EPS for the current year.

ESAB Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.08 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. ESAB’s payout ratio is currently 7.49%.

About ESAB

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.