Lincoln Electric (NASDAQ:LECO) Stock Rating Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Lincoln Electric from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy,” with an average price target of $307.22.
• Lincoln Electric reported quarterly EPS of $2.93, exceeding the $2.81 consensus estimate, while revenue reached $1.22 billion and rose 12% year over year.
• The stock opened at $261.13, compared with a 52-week range of $216.22 to $310.00; institutional investors own approximately 79.6% of the company.

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

A number of other equities analysts also recently commented on the company. DA Davidson started coverage on Lincoln Electric in a report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price objective on the stock. Morgan Stanley upgraded shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $257.00 to $283.00 in a research note on Monday, August 10th. UBS Group started coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They issued a "buy" rating and a $340.00 target price for the company. Finally, Weiss Ratings upgraded shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $307.22.

Lincoln Electric Price Performance

NASDAQ LECO opened at $261.13 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. Lincoln Electric has a 1 year low of $216.22 and a 1 year high of $310.00. The company has a market cap of $14.23 billion, a PE ratio of 26.09, a PEG ratio of 1.54 and a beta of 1.21. The stock's 50-day moving average price is $272.48 and its two-hundred day moving average price is $263.67.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.81 by $0.12. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%. Lincoln Electric's revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.60 earnings per share. On average, analysts predict that Lincoln Electric will post 11.18 EPS for the current year.

Hedge Funds Weigh In On Lincoln Electric

Several hedge funds and other institutional investors have recently modified their holdings of LECO. GK Wealth Management LLC bought a new stake in shares of Lincoln Electric in the 3rd quarter worth about $138,000. Riversedge Advisors LLC lifted its holdings in Lincoln Electric by 13.1% during the 3rd quarter. Riversedge Advisors LLC now owns 2,400 shares of the industrial products company's stock valued at $635,000 after purchasing an additional 278 shares during the last quarter. Wedmont Private Capital acquired a new position in Lincoln Electric in the third quarter valued at about $206,000. GAMMA Investing LLC boosted its position in Lincoln Electric by 23.1% in the third quarter. GAMMA Investing LLC now owns 2,389 shares of the industrial products company's stock valued at $632,000 after buying an additional 449 shares in the last quarter. Finally, Bell Asset Management Ltd bought a new stake in Lincoln Electric during the third quarter worth about $2,800,000. Institutional investors own 79.61% of the company's stock.

About Lincoln Electric

Lincoln Electric Holdings, Inc is a Cleveland, Ohio-based manufacturer of welding, cutting and industrial automation products. The company serves manufacturers, fabricators, construction companies, maintenance and repair operations, utilities, and other industrial customers.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories, and related safety products. Lincoln Electric also provides automated and robotic welding systems, engineered solutions, training, and technical support.

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