ESAB (NYSE:ESAB) Price Target Cut to $109.00 by Analysts at Stifel Nicolaus

ESAB (NYSE:ESAB - Free Report) had its target price reduced by Stifel Nicolaus from $125.00 to $109.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their target price on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. UBS Group upgraded ESAB from a "neutral" rating to a "buy" rating and upped their price target for the stock from $123.00 to $147.00 in a report on Tuesday, April 1st. Finally, Evercore ISI raised shares of ESAB from an "underperform" rating to an "inline" rating and decreased their price objective for the stock from $122.00 to $120.00 in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, ESAB presently has an average rating of "Moderate Buy" and an average target price of $133.75.

ESAB Stock Performance

ESAB stock traded down $0.03 during midday trading on Monday, hitting $113.47. 228,712 shares of the stock traded hands, compared to its average volume of 277,795. The stock's fifty day simple moving average is $119.57 and its 200-day simple moving average is $120.55. The firm has a market cap of $6.88 billion, a P/E ratio of 26.27, a PEG ratio of 2.01 and a beta of 1.37. ESAB has a 1-year low of $88.54 and a 1-year high of $135.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, topping 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, analysts expect that ESAB will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, April 4th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, April 4th. ESAB's dividend payout ratio (DPR) is currently 7.41%.

Institutional Trading of ESAB

Several large investors have recently bought and sold shares of ESAB. Janney Montgomery Scott LLC purchased a new position in ESAB during the first quarter worth $590,000. SG Americas Securities LLC raised its stake in ESAB by 12.3% in the 1st quarter. SG Americas Securities LLC now owns 25,032 shares of the company's stock valued at $2,916,000 after purchasing an additional 2,741 shares during the last quarter. GAMMA Investing LLC lifted its holdings in ESAB by 37.7% in the 1st quarter. GAMMA Investing LLC now owns 756 shares of the company's stock valued at $88,000 after purchasing an additional 207 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of ESAB by 1,128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock worth $56,000 after purchasing an additional 429 shares during the last quarter. Finally, Fenimore Asset Management Inc grew its holdings in shares of ESAB by 0.3% during the first quarter. Fenimore Asset Management Inc now owns 106,341 shares of the company's stock worth $12,389,000 after buying an additional 360 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company's stock.

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.