ESAB Corporation (NYSE:ESAB) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• ESAB Corporation has received a consensus rating of "Moderate Buy" from analysts, with two analysts recommending a hold and six recommending a buy.
• The average target price for ESAB shares among brokers is $140.3750, reflecting various adjustments made by multiple research firms recently.
• Insider transactions reveal that key executives, including Olivier Biebuyck, have sold significant shares of ESAB stock, indicating a potential shift in insider sentiment.

ESAB Corporation (NYSE:ESAB - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $140.3750.

ESAB has been the topic of a number of recent analyst reports. Oppenheimer reduced their price target on shares of ESAB from $144.00 to $142.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Loop Capital raised shares of ESAB from a "hold" rating to a "buy" rating and lifted their price target for the stock from $130.00 to $140.00 in a research report on Friday, August 22nd. JPMorgan Chase & Co. dropped their price objective on shares of ESAB from $137.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Robert W. Baird set a $143.00 price objective on shares of ESAB in a report on Friday, May 2nd. Finally, Zacks Research lowered shares of ESAB from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th.

Insiders Place Their Bets

In related news, insider Olivier Biebuyck sold 1,440 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $133.49, for a total transaction of $192,225.60. Following the sale, the insider directly owned 14,989 shares in the company, valued at $2,000,881.61. This trade represents a 8.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rhonda L. Jordan sold 4,067 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $113.05, for a total transaction of $459,774.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,007 shares of company stock worth $841,630. 7.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ESAB

A number of hedge funds and other institutional investors have recently made changes to their positions in ESAB. Sumitomo Mitsui Trust Group Inc. increased its stake in ESAB by 3.1% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,693 shares of the company's stock valued at $325,000 after buying an additional 81 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in ESAB by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company's stock valued at $1,617,000 after buying an additional 95 shares during the last quarter. State of Michigan Retirement System increased its stake in ESAB by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 13,602 shares of the company's stock valued at $1,585,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in ESAB by 0.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company's stock valued at $1,852,000 after buying an additional 100 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in ESAB by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 2,527 shares of the company's stock valued at $305,000 after buying an additional 106 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Price Performance

Shares of ESAB stock opened at $117.52 on Wednesday. ESAB has a 52-week low of $93.15 and a 52-week high of $135.97. The stock has a market cap of $7.13 billion, a PE ratio of 28.11, a PEG ratio of 2.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.26 and a current ratio of 1.95. The firm's 50 day moving average price is $122.18 and its two-hundred day moving average price is $121.62.

ESAB (NYSE:ESAB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.02. The company had revenue of $715.59 million for the quarter, compared to analysts' expectations of $670.80 million. ESAB had a net margin of 9.36% and a return on equity of 16.32%. The business's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $1.32 earnings per share. As a group, analysts forecast that ESAB will post 5.16 EPS for the current year.

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.

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