ESAB (NYSE:ESAB) Given New $125.00 Price Target at Evercore ISI

ESAB (NYSE:ESAB - Get Free Report) had its price target raised by Evercore ISI from $120.00 to $125.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's target price would indicate a potential downside of 4.02% from the stock's previous close.

Several other equities research analysts also recently weighed in on ESAB. Stifel Nicolaus increased their price target on ESAB from $109.00 to $126.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Robert W. Baird set a $143.00 target price on ESAB in a research report on Friday, May 2nd. UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and boosted their target price for the company from $123.00 to $147.00 in a research note on Tuesday, April 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, ESAB currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.22.

ESAB Stock Performance

Shares of NYSE:ESAB opened at $130.24 on Monday. ESAB has a 52 week low of $88.54 and a 52 week high of $135.97. The stock has a market capitalization of $7.90 billion, a P/E ratio of 30.15, a PEG ratio of 2.01 and a beta of 1.36. The firm has a fifty day simple moving average of $118.70 and a two-hundred day simple moving average of $122.41. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59.

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 analysts' consensus estimates of $1.18 by $0.07. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The firm had revenue of $678.14 million during the quarter, compared to analysts' expectations of $633.66 million. During the same period in the previous year, the company earned $1.20 EPS. The firm's revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts expect that ESAB will post 5.16 earnings per share for the current fiscal year.

Insider Activity at ESAB

In other news, 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 sale, the insider now owns 14,989 shares in the company, valued at approximately $1,965,807.35. The trade was a 8.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ESAB

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in shares of 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 bought a new stake in shares of ESAB in the 1st quarter valued at about $33,000. Trust Co. of Vermont raised its holdings in shares of ESAB by 871.0% in the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company's stock valued at $36,000 after purchasing an additional 270 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of ESAB in the 4th quarter worth approximately $36,000. Finally, First Horizon Advisors Inc. grew its position in shares of ESAB by 204.8% in the 1st quarter. First Horizon Advisors Inc. now owns 320 shares of the company's stock worth $37,000 after buying an additional 215 shares during the last quarter. Institutional investors own 91.13% of the company's stock.

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.

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