Lincoln Electric (NASDAQ:LECO) Stock Lifted to "Buy" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Lincoln Electric to “Buy” from “Hold.” Other analysts also raised price targets, and the stock carries a “Moderate Buy” consensus rating with an average target of $319.11.
• Lincoln Electric reported quarterly EPS of $2.98, exceeding estimates of $2.81, while revenue reached $1.22 billion and increased 15.1% year over year.
• LECO shares opened at $276.92, with a $15 billion market capitalization; institutional investors own approximately 79.6% of the company.

Lincoln Electric (NASDAQ:LECO - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other analysts have also issued reports on the company. Robert W. Baird raised their target price on Lincoln Electric from $317.00 to $322.00 and gave the company an "outperform" rating in a report on Wednesday. UBS Group upped their price target on Lincoln Electric from $340.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday. DA Davidson set a $340.00 price objective on Lincoln Electric in a research report on Thursday. Weiss Ratings downgraded shares of Lincoln Electric from a "buy (b)" rating to a "hold (c)" rating in a research note on Wednesday. Finally, Morgan Stanley boosted their target price on shares of Lincoln Electric from $283.00 to $293.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $319.11.

Lincoln Electric Stock Performance

Shares of LECO opened at $276.92 on Friday. The company has a market capitalization of $15.00 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.67 and a beta of 1.21. Lincoln Electric has a one year low of $216.22 and a one year high of $310.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.91 and a quick ratio of 1.20. The company's fifty day moving average price is $267.96 and its 200 day moving average price is $265.93.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.17. Lincoln Electric had a return on equity of 40.06% and a net margin of 12.40%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $2.47 earnings per share. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. As a group, analysts expect that Lincoln Electric will post 11.38 earnings per share for the current year.

Institutional Trading of Lincoln Electric

Institutional investors have recently modified their holdings of the company. North Dakota State Investment Board increased its position in shares of Lincoln Electric by 2.3% in the third quarter. North Dakota State Investment Board now owns 1,631 shares of the industrial products company's stock worth $432,000 after purchasing an additional 37 shares during the last quarter. Mather Group LLC. raised its stake in Lincoln Electric by 5.1% in the third quarter. Mather Group LLC. now owns 859 shares of the industrial products company's stock valued at $227,000 after purchasing an additional 42 shares in the last quarter. Earned Wealth Advisors LLC lifted its position in Lincoln Electric by 3.8% during the first quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company's stock valued at $293,000 after purchasing an additional 43 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Lincoln Electric by 1.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,220 shares of the industrial products company's stock valued at $1,117,000 after purchasing an additional 51 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in Lincoln Electric by 9.4% in the 1st quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company's stock worth $151,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 79.61% of the company's stock.

About Lincoln Electric

Lincoln Electric Holdings, Inc NASDAQ: LECO is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.

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