ESAB Corporation (NYSE:ESAB) Receives $137.22 Average Price Target from Analysts

Shares of ESAB Corporation (NYSE:ESAB - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $137.22.

Several research analysts have weighed in on the company. 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 research note on Tuesday, April 1st. Evercore ISI lifted their price target on ESAB from $120.00 to $125.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. lifted their price target on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Stifel Nicolaus lifted their price target on ESAB from $109.00 to $126.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Finally, Robert W. Baird set a $143.00 price target on ESAB in a research note on Friday, May 2nd.

Insider Buying and Selling

In related news, Director Rhonda L. Jordan sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $126.42, for a total value of $189,630.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Olivier Biebuyck sold 1,417 shares of the firm's stock in a transaction that occurred on 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 sale, the insider owned 14,989 shares in the company, valued at approximately $1,965,807.35. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ESAB

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in ESAB by 3.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,538,081 shares of the company's stock worth $904,118,000 after acquiring an additional 225,345 shares during the period. Vanguard Group Inc. increased its position in ESAB by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,546,104 shares of the company's stock worth $665,200,000 after buying an additional 20,741 shares during the period. JPMorgan Chase & Co. increased its position in ESAB by 8.4% in the 1st quarter. JPMorgan Chase & Co. now owns 2,387,626 shares of the company's stock worth $278,158,000 after buying an additional 185,058 shares during the period. Invesco Ltd. grew its holdings in shares of ESAB by 17.9% during the 4th quarter. Invesco Ltd. now owns 2,097,624 shares of the company's stock worth $251,589,000 after purchasing an additional 318,018 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in shares of ESAB by 42.0% during the 1st quarter. Champlain Investment Partners LLC now owns 1,929,099 shares of the company's stock worth $224,740,000 after purchasing an additional 570,895 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company's stock.

ESAB Stock Up 1.1%

ESAB stock traded up $1.41 during mid-day trading on Tuesday, reaching $126.38. The company had a trading volume of 366,222 shares, compared to its average volume of 299,399. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.91. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 3.06 and a beta of 1.26. The firm has a fifty day simple moving average of $123.71 and a 200 day simple moving average of $121.30. ESAB has a fifty-two week low of $88.54 and a fifty-two week high of $135.97.

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

ESAB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.40 annualized dividend and a yield of 0.32%. This is a boost from ESAB's previous quarterly dividend of $0.08. ESAB's dividend payout ratio is presently 9.01%.

About ESAB

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.