Oppenheimer Raises ESAB (NYSE:ESAB) Price Target to $122.00

ESAB (NYSE:ESAB) had its price objective hoisted by Oppenheimer from $115.00 to $122.00 in a report issued on Tuesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other brokerages have also commented on ESAB. Stifel Nicolaus decreased their price objective on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Bank of America lifted their price objective on shares of ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their target price on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Evercore ISI lowered their price target on ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, ESAB currently has an average rating of “Moderate Buy” and a consensus target price of $116.17.

ESAB Trading Down 0.4 %

NYSE:ESAB opened at $111.08 on Tuesday. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 1.81 and a beta of 1.42. ESAB has a 52 week low of $61.43 and a 52 week high of $114.77. The company has a quick ratio of 1.21, a current ratio of 1.86 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $103.77 and a 200 day moving average of $101.77.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Friday, August 2nd. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The firm had revenue of $707.10 million during the quarter, compared to analyst estimates of $686.75 million. During the same quarter in the prior year, the business posted $1.21 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that ESAB will post 4.84 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.29%. The ex-dividend date was Friday, September 27th. ESAB’s dividend payout ratio is currently 8.38%.

Hedge Funds Weigh In On ESAB

Several institutional investors and hedge funds have recently modified their holdings of ESAB. Whittier Trust Co. lifted its holdings in ESAB by 302.6% in the first quarter. Whittier Trust Co. now owns 314 shares of the company’s stock valued at $35,000 after acquiring an additional 236 shares during the period. ORG Partners LLC acquired a new position in shares of ESAB in the 1st quarter valued at $35,000. GAMMA Investing LLC boosted its holdings in ESAB by 55.9% during the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after buying an additional 147 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of ESAB in the second quarter worth about $42,000. Finally, Blue Trust Inc. increased its stake in shares of ESAB by 629.8% in 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 in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Company Profile

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.