ESAB (NYSE:ESAB) Given New $142.00 Price Target at DA Davidson

Key Points

• DA Davidson cut its price target on ESAB to $142.00 (from $146) but kept a "buy" rating; the target implies roughly a 42.9% upside and the consensus analyst view is a Moderate Buy with an average target of $138.40.
• Shares traded down about 2% to $99.37 mid-day, valuing ESAB at $6.05 billion with a P/E of 26.88 and a 52‑week range of $89.41–$137.42, leaving the stock well below most analyst targets.
• CEO Shyam Kambeyanda sold 59,404 shares for roughly $7.35 million in late February (reducing his position by ~37%), while insiders own 7.2% and institutions own about 91.13% of the stock.

ESAB (NYSE:ESAB - Get Free Report) had its price objective dropped by research analysts at DA Davidson from $146.00 to $142.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's price target indicates a potential upside of 42.91% from the company's previous close.

Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded ESAB from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, February 20th. Stifel Nicolaus reduced their price objective on shares of ESAB from $158.00 to $138.00 and set a "buy" rating for the company in a research note on Wednesday, April 8th. Wall Street Zen cut shares of ESAB from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Oppenheimer reissued an "outperform" rating and issued a $140.00 price objective on shares of ESAB in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ESAB from $148.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, April 10th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $138.40.

ESAB Trading Down 2.0%

Shares of ESAB traded down $2.05 during mid-day trading on Thursday, hitting $99.37. 380,527 shares of the company's stock traded hands, compared to its average volume of 549,677. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. ESAB has a 1 year low of $89.41 and a 1 year high of $137.42. The firm has a market capitalization of $6.05 billion, a P/E ratio of 26.88, a PEG ratio of 1.93 and a beta of 1.36. The business's 50-day moving average price is $111.42 and its 200-day moving average price is $114.08.

ESAB (NYSE:ESAB - Get Free Report) last released its earnings results on Friday, February 20th. The company reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.01. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The firm had revenue of $687.00 million for the quarter, compared to analysts' expectations of $687.80 million. During the same period in the prior year, the firm posted $1.28 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts forecast that ESAB will post 5.16 EPS for the current fiscal year.

Insider Transactions at ESAB

In other ESAB news, CEO Shyam Kambeyanda sold 59,404 shares of the company's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $123.79, for a total value of $7,353,621.16. Following the completion of the sale, the chief executive officer directly owned 99,864 shares in the company, valued at approximately $12,362,164.56. This represents a 37.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.20% of the stock is currently owned by insiders.

Institutional Trading of ESAB

A number of institutional investors have recently modified their holdings of the company. Diversified Trust Co increased its holdings in shares of ESAB by 4.4% in the first quarter. Diversified Trust Co now owns 20,835 shares of the company's stock valued at $2,014,000 after purchasing an additional 872 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in ESAB by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company's stock valued at $894,457,000 after acquiring an additional 45,841 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in ESAB during the 4th quarter valued at approximately $322,000. Vident Advisory LLC lifted its stake in ESAB by 132.4% during the 4th quarter. Vident Advisory LLC now owns 4,879 shares of the company's stock valued at $545,000 after acquiring an additional 2,780 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its stake in ESAB by 2.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 8,335 shares of the company's stock valued at $931,000 after acquiring an additional 182 shares during the period. 91.13% of the stock is currently owned by institutional investors.

About ESAB

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company's products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.

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