ESAB Co. (NYSE:ESAB) Given Average Recommendation of "Moderate Buy" by Analysts

ESAB Co. (NYSE:ESAB - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $133.75.

A number of equities analysts have issued reports on ESAB shares. JPMorgan Chase & Co. raised their price target on shares of ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Stifel Nicolaus reduced their target price on ESAB from $125.00 to $109.00 and set a "hold" rating for the company in a research note on Monday, April 14th. UBS Group upgraded ESAB from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $123.00 to $147.00 in a research note on Tuesday, April 1st. Finally, Evercore ISI upgraded shares of ESAB from an "underperform" rating to an "inline" rating and reduced their target price for the company from $122.00 to $120.00 in a research report on Monday, February 24th.

Institutional Trading of ESAB

A number of large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of ESAB by 70.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after acquiring an additional 90 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of ESAB in the 4th quarter valued at about $34,000. Trust Co. of Vermont grew its holdings in ESAB by 871.0% in the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company's stock valued at $36,000 after purchasing an additional 270 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in ESAB in the 4th quarter valued at approximately $36,000. Finally, First Horizon Advisors Inc. lifted its holdings in ESAB by 204.8% in the 1st quarter. First Horizon Advisors Inc. now owns 320 shares of the company's stock valued at $37,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company's stock.

ESAB Stock Down 0.9 %

Shares of NYSE ESAB traded down $1.13 during mid-day trading on Thursday, reaching $118.12. 21,447 shares of the company were exchanged, compared to its average volume of 277,457. The firm has a 50-day moving average of $117.98 and a 200 day moving average of $121.37. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. ESAB has a 1 year low of $88.54 and a 1 year high of $135.97. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 2.01 and a beta of 1.37.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.13. The company had revenue of $633.20 million during the quarter, compared to analysts' expectations of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. On average, research analysts expect that ESAB will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, April 4th were given a dividend of $0.08 per share. The ex-dividend date was Friday, April 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. ESAB's dividend payout ratio is currently 7.41%.

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.