ESAB (NYSE:ESAB) Given New $125.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered its price target for ESAB from $137.00 to $125.00, maintaining an "overweight" rating, suggesting a potential upside of 7.68% from the stock's previous close.
• Multiple analysts have provided varying price targets for ESAB, with a consensus target price of $137.88, indicating strong overall interest in the stock's performance.
• ESAB reported earnings of $1.36 per share for the recent quarter, surpassing the consensus estimate by $0.02, with revenue of $715.59 million also exceeding forecasts.

ESAB (NYSE:ESAB - Get Free Report) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $137.00 to $125.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 7.68% from the stock's previous close.

A number of other equities analysts also recently commented on ESAB. Robert W. Baird set a $143.00 price target on ESAB in a research note on Friday, May 2nd. Oppenheimer cut their target price on shares of ESAB from $144.00 to $142.00 and set an "outperform" rating on the stock in a report on Thursday. Evercore ISI raised their price target on ESAB from $120.00 to $125.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, Stifel Nicolaus upgraded ESAB from a "hold" rating to a "buy" rating and set a $141.00 target price on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.88.

ESAB Price Performance

ESAB stock traded up $6.82 during trading on Thursday, hitting $116.09. The stock had a trading volume of 980,796 shares, compared to its average volume of 313,003. ESAB has a 1-year low of $93.13 and a 1-year high of $135.97. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 3.19 and a beta of 1.27. The company's 50 day moving average price is $125.33 and its two-hundred day moving average price is $122.62. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.91.

ESAB (NYSE:ESAB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. ESAB had a net margin of 9.98% and a return on equity of 16.98%. The business had revenue of $715.59 million during the quarter, compared to the consensus estimate of $670.80 million. During the same period in the prior year, the firm earned $1.32 earnings per share. The business's quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts forecast that ESAB will post 5.16 EPS for the current fiscal year.

Insider Activity

In other ESAB news, Director Rhonda L. Jordan sold 1,500 shares of the company'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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Olivier Biebuyck sold 1,440 shares of ESAB stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $133.49, for a total value of $192,225.60. Following the sale, the insider directly owned 14,989 shares in the company, valued at $2,000,881.61. The trade was a 8.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,357 shares of company stock worth $567,695. Insiders own 7.30% of the company's stock.

Hedge Funds Weigh In On ESAB

Several institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. lifted its holdings in ESAB by 3.1% in the second 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 period. Quadrant Capital Group LLC increased its position in shares of ESAB by 15.6% in the 4th quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock valued at $82,000 after buying an additional 92 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of ESAB by 0.7% in the first quarter. State of Michigan Retirement System now owns 13,602 shares of the company's stock worth $1,585,000 after acquiring an additional 100 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in ESAB by 0.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company's stock worth $1,852,000 after purchasing an additional 100 shares in the last quarter. Finally, Ellevest Inc. lifted its position in ESAB by 3.8% in the 2nd quarter. Ellevest Inc. now owns 3,150 shares of the company's stock valued at $380,000 after acquiring an additional 114 shares in the last quarter. Institutional investors 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.

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