Brokerages Set ESAB Corporation (NYSE:ESAB) PT at $141.44

Key Points

• ESAB Corporation has received a consensus rating of "Moderate Buy" from nine research firms, with two hold ratings and seven buy ratings.
• The company's stock price target averages around $141.44, reflecting positive analyst sentiment after upgrades from Loop Capital and Stifel Nicolaus.
• ESAB recently announced a quarterly dividend of $0.10, with an annualized yield of 0.4%, and plans to pay it on October 17th to investors on record by October 3rd.

ESAB Corporation (NYSE:ESAB - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nine brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $141.4444.

A number of equities research analysts recently issued reports on ESAB shares. Loop Capital upgraded shares of ESAB from a "hold" rating to a "buy" rating and increased their target price for the stock from $130.00 to $140.00 in a research report on Friday, August 22nd. JPMorgan Chase & Co. lowered their price objective on shares of ESAB from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Oppenheimer decreased their target price on ESAB from $144.00 to $142.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Stifel Nicolaus upgraded shares of ESAB from a "hold" rating to a "buy" rating and set a $141.00 price target on the stock in a report on Thursday, August 7th. Finally, Zacks Research cut ESAB from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th.

Insider Transactions at ESAB

In other news, insider Olivier Biebuyck sold 1,440 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $133.49, for a total transaction of $192,225.60. Following the sale, the insider owned 14,989 shares of the company's stock, valued at approximately $2,000,881.61. This represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rhonda L. Jordan sold 4,067 shares of ESAB stock in a transaction on Wednesday, August 13th. The shares were 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. 7.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its stake in ESAB by 22.4% during the second quarter. Osaic Holdings Inc. now owns 2,246 shares of the company's stock worth $271,000 after buying an additional 411 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of ESAB in the second quarter valued at about $579,000. Thrivent Financial for Lutherans increased its position in ESAB by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company's stock worth $1,617,000 after buying an additional 95 shares during the last quarter. State of Wyoming increased its holdings in shares of ESAB by 105.8% during the 2nd quarter. State of Wyoming now owns 3,568 shares of the company's stock worth $430,000 after acquiring an additional 1,834 shares during the last quarter. Finally, Kestra Investment Management LLC increased its holdings in shares of ESAB by 11.2% in the second quarter. Kestra Investment Management LLC now owns 9,537 shares of the company's stock valued at $1,150,000 after purchasing an additional 963 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

ESAB Stock Performance

Shares of ESAB stock traded down $2.03 during mid-day trading on Friday, hitting $108.77. The stock had a trading volume of 202,891 shares, compared to its average volume of 340,555. ESAB has a fifty-two week low of $100.17 and a fifty-two week high of $135.97. The company's 50-day simple moving average is $118.67 and its 200-day simple moving average is $120.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.95 and a quick ratio of 1.26. The firm has a market cap of $6.60 billion, a PE ratio of 26.03, a PEG ratio of 2.43 and a beta of 1.26.

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

ESAB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. ESAB's dividend payout ratio is currently 9.57%.

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.