ESAB (NYSE:ESAB) Price Target Cut to $135.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its price target on ESAB from $148 to $135 while maintaining an "overweight" rating, with the new target implying about a 33.35% upside from the current share price.
• Multiple analysts have trimmed targets recently (Stifel, Jefferies, Roth MKM), yet the consensus remains a "Moderate Buy" with an average target of approximately $139.33.
• CEO Shyam Kambeyanda sold 59,404 shares at an average of $123.79 (roughly $7.35M), reducing his ownership by 37.3%, while institutional investors hold about 91.13% of the stock.

ESAB (NYSE:ESAB - Get Free Report) had its price objective decreased by JPMorgan Chase & Co. from $148.00 to $135.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 33.35% from the stock's current price.

Several other equities research analysts also recently weighed in on the company. Stifel Nicolaus decreased their price objective on ESAB from $158.00 to $138.00 and set a "buy" rating for the company in a report on Wednesday. Wall Street Zen downgraded ESAB from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Jefferies Financial Group reissued a "buy" rating and issued a $130.00 price objective (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Weiss Ratings downgraded ESAB from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, February 20th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $146.00 price target (down from $150.00) on shares of ESAB in a report on Tuesday, February 3rd. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $139.33.

ESAB Stock Down 1.0%

ESAB traded down $1.01 on Friday, reaching $101.24. The company's stock had a trading volume of 273,690 shares, compared to its average volume of 549,519. The stock has a 50 day moving average of $112.86 and a two-hundred day moving average of $114.26. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 1.91 and a beta of 1.36. ESAB has a fifty-two week low of $89.41 and a fifty-two week high of $137.42.

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

Insider Activity

In related news, CEO Shyam Kambeyanda sold 59,404 shares of the firm's stock in a transaction dated Monday, February 23rd. The shares were 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 owned 99,864 shares in the company, valued at $12,362,164.56. This trade represents a 37.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ESAB

Hedge funds and other institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans grew its holdings in shares of ESAB by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company's stock worth $1,617,000 after acquiring an additional 95 shares during the period. Xponance Inc. increased its stake in ESAB by 1.6% in the 3rd quarter. Xponance Inc. now owns 6,488 shares of the company's stock valued at $725,000 after purchasing an additional 102 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in ESAB by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company's stock valued at $2,191,000 after purchasing an additional 107 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in ESAB by 5.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company's stock valued at $300,000 after purchasing an additional 149 shares in the last quarter. Finally, Lafayette Investments Inc. increased its stake in ESAB by 0.5% in the 4th quarter. Lafayette Investments Inc. now owns 34,266 shares of the company's stock valued at $3,828,000 after purchasing an additional 161 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.