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ESAB Corporation (NYSE:ESAB) Receives $137.22 Consensus PT from Analysts

ESAB logo with Industrials background

Shares of ESAB Corporation (NYSE:ESAB - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $137.22.

A number of research firms recently issued reports on ESAB. Robert W. Baird set a $143.00 target price on ESAB in a report on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. UBS Group upgraded ESAB from a "neutral" rating to a "buy" rating and lifted their target price for the company from $123.00 to $147.00 in a report on Tuesday, April 1st. Evercore ISI lifted their target price on ESAB from $120.00 to $125.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Finally, Stifel Nicolaus lifted their target price on ESAB from $109.00 to $126.00 and gave the company a "hold" rating in a report on Friday, May 2nd.

Read Our Latest Research Report on ESAB

Insider Transactions at ESAB

In related news, Director Rhonda L. Jordan sold 1,500 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $126.42, for a total value of $189,630.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Olivier Biebuyck sold 1,417 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $131.15, for a total value of $185,839.55. Following the completion of the transaction, the insider owned 14,989 shares in the company, valued at $1,965,807.35. This trade represents a 8.64% decrease in their position. The disclosure for this sale can be found here. 7.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ESAB

Several institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in 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 purchasing an additional 90 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in ESAB in the 1st quarter valued at approximately $33,000. SBI Securities Co. Ltd. purchased a new stake in ESAB in the 4th quarter valued at approximately $36,000. First Horizon Advisors Inc. boosted 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. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in ESAB by 706.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company's stock valued at $42,000 after purchasing an additional 318 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company's stock.

ESAB Trading Down 0.6%

Shares of ESAB traded down $0.81 during midday trading on Tuesday, hitting $127.41. 240,181 shares of the stock were exchanged, compared to its average volume of 276,862. ESAB has a 52-week low of $88.54 and a 52-week high of $135.97. The stock has a fifty day simple moving average of $124.27 and a 200 day simple moving average of $121.46. The firm has a market cap of $7.72 billion, a P/E ratio of 28.70, a P/E/G ratio of 3.13 and a beta of 1.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.91.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. ESAB had a return on equity of 16.98% and a net margin of 9.98%. The business had revenue of $678.14 million during the quarter, compared to analyst estimates of $633.66 million. During the same period last year, the business posted $1.20 earnings per share. The company's quarterly revenue was down 1.7% on a year-over-year basis. On average, research analysts anticipate that ESAB will post 5.16 EPS for the current fiscal year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. ESAB's dividend payout ratio (DPR) is currently 9.01%.

ESAB Company Profile

(Get Free Report

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.

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