ESAB (NYSE:ESAB) Price Target Lowered to $142.00 at Oppenheimer

Key Points

• Oppenheimer has lowered its price target for ESAB from $144.00 to $142.00, while maintaining an "outperform" rating, indicating a potential upside of 22.39% from the stock's current price.
• ESAB reported earnings per share of $1.36 for the last quarter, exceeding expectations, and had a revenue of $715.59 million, showing a year-over-year growth of 1.3%.
• Analysts have mixed ratings on ESAB, with two holding a "hold" rating and five giving a "buy" rating, resulting in an average rating of "Moderate Buy" and a price target of $139.75.

ESAB (NYSE:ESAB - Get Free Report) had its price objective dropped by Oppenheimer from $144.00 to $142.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's price objective suggests a potential upside of 22.39% from the stock's current price.

Several other equities analysts have also weighed in on the stock. Evercore ISI lifted their target price on shares of ESAB from $120.00 to $125.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Stifel Nicolaus raised shares of ESAB from a "hold" rating to a "buy" rating and set a $141.00 price target for the company in a report on Thursday. Finally, Robert W. Baird set a $143.00 price target on shares of ESAB in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $139.75.

ESAB Stock Down 12.1%

NYSE:ESAB opened at $116.02 on Thursday. ESAB has a fifty-two week low of $92.86 and a fifty-two week high of $135.97. The stock has a market capitalization of $7.03 billion, a P/E ratio of 25.82, a P/E/G ratio of 3.19 and a beta of 1.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.91. The company's 50-day simple moving average is $125.33 and its 200-day simple moving average is $122.62.

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

Insider Buying and Selling at ESAB

In related news, Director Rhonda L. Jordan sold 1,500 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $126.42, for a total transaction of $189,630.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Olivier Biebuyck sold 1,440 shares of the stock in a transaction 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 completion of the transaction, the insider owned 14,989 shares of the company's stock, 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. Over the last ninety days, insiders have sold 4,357 shares of company stock valued at $567,695. Corporate insiders own 7.30% of the company's stock.

Institutional Trading of ESAB

A number of large investors have recently made changes to their positions in ESAB. Durable Capital Partners LP acquired a new stake in shares of ESAB during the first quarter valued at $114,067,000. Champlain Investment Partners LLC boosted its stake in ESAB by 42.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,929,099 shares of the company's stock worth $224,740,000 after buying an additional 570,895 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in ESAB by 101.5% in the 1st quarter. Bank of New York Mellon Corp now owns 880,729 shares of the company's stock worth $102,605,000 after buying an additional 443,574 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in ESAB in the 4th quarter worth about $52,281,000. Finally, Invesco Ltd. boosted its stake in ESAB by 17.9% in the 4th quarter. Invesco Ltd. now owns 2,097,624 shares of the company's stock worth $251,589,000 after buying an additional 318,018 shares during the last quarter. Institutional investors and hedge funds 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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