Lincoln Electric (NASDAQ:LECO) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Lincoln Electric from hold to buy, adding to a mixed but generally positive analyst backdrop. Other firms have recently issued varying views, and the stock’s overall consensus rating remains Hold with an average target price of $299.
• Lincoln Electric shares were up 1.9% to $250.97, below both its recent trading averages and its 52-week high of $310. The company has a market cap of about $13.75 billion and trades at a P/E of 25.9.
• The company’s latest quarterly results beat expectations, with EPS of $2.50 versus the $2.42 estimate and revenue of $1.12 billion versus the $1.07 billion forecast. Revenue rose 11.7% year over year, and analysts expect 10.82 EPS for the full fiscal year.

Lincoln Electric (NASDAQ:LECO - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Sunday.

Other equities analysts have also recently issued reports about the company. DA Davidson began coverage on Lincoln Electric in a report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 target price on the stock. Jefferies Financial Group reiterated a "hold" rating and set a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Weiss Ratings upgraded shares of Lincoln Electric from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, April 16th. Barclays upped their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Finally, Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a research note on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $299.00.

Lincoln Electric Stock Up 1.9%

Shares of LECO traded up $4.62 during trading hours on Friday, hitting $250.97. The stock had a trading volume of 212,634 shares, compared to its average volume of 375,062. Lincoln Electric has a 1-year low of $214.06 and a 1-year high of $310.00. The firm has a market capitalization of $13.75 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 1.55 and a beta of 1.20. The firm has a 50 day simple moving average of $263.21 and a 200-day simple moving average of $262.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.08. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The company's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 earnings per share. Sell-side analysts predict that Lincoln Electric will post 10.82 EPS for the current fiscal year.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the sale, the executive vice president directly owned 9,319 shares of the company's stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.68% of the company's stock.

Hedge Funds Weigh In On Lincoln Electric

Several institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL raised its stake in Lincoln Electric by 3,475.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 51,307 shares of the industrial products company's stock valued at $12,100,000 after acquiring an additional 49,872 shares during the period. Azzad Asset Management Inc. ADV boosted its position in Lincoln Electric by 37.3% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 15,901 shares of the industrial products company's stock worth $3,811,000 after purchasing an additional 4,317 shares during the period. New York State Teachers Retirement System increased its stake in shares of Lincoln Electric by 7.8% in the fourth quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company's stock worth $15,488,000 after purchasing an additional 4,655 shares in the last quarter. Norges Bank bought a new stake in shares of Lincoln Electric in the fourth quarter valued at approximately $415,155,000. Finally, K.J. Harrison & Partners Inc purchased a new stake in shares of Lincoln Electric during the 4th quarter valued at approximately $1,677,000. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc NASDAQ: LECO is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company's portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.

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