Wall Street Zen Upgrades Lincoln Electric (NASDAQ:LECO) to "Buy"

Key Points

• Wall Street Zen upgraded Lincoln Electric to “Buy” from “Hold,” though the broader analyst consensus remains “Hold,” with five Buy, three Hold, and one Sell rating and an average price target of $299.38.
• Lincoln Electric reported quarterly EPS of $2.93, beating estimates of $2.81, while revenue reached $1.22 billion versus the $1.17 billion consensus and increased 12% year over year.
• The stock was trading at $281.96, up 1.1%, with a $15.37 billion market capitalization; institutional investors own approximately 79.61% of shares, while an executive recently sold 845 shares.

Lincoln Electric (NASDAQ:LECO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also recently weighed in on LECO. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a research note on Friday, May 1st. Weiss Ratings raised Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. Morgan Stanley lifted their price target on Lincoln Electric from $250.00 to $253.00 and gave the stock an "underweight" rating in a research report on Friday, July 17th. Barclays increased their price objective on Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Finally, DA Davidson started coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price objective on the stock. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Lincoln Electric presently has an average rating of "Hold" and an average price target of $299.38.

Lincoln Electric Trading Up 1.1%

NASDAQ:LECO opened at $281.96 on Friday. Lincoln Electric has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. The stock has a market cap of $15.37 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.20. The stock's 50-day moving average is $261.36 and its two-hundred day moving average is $264.39.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.12. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The firm's revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.60 EPS. As a group, equities research analysts forecast that Lincoln Electric will post 11.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the transaction, the executive vice president owned 9,319 shares of the company's stock, valued at $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.68% of the stock is currently owned by company insiders.

Institutional Trading of Lincoln Electric

A number of institutional investors and hedge funds have recently modified their holdings of LECO. Earned Wealth Advisors LLC boosted its position in shares of Lincoln Electric by 3.8% in the first quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company's stock valued at $293,000 after acquiring an additional 43 shares during the period. Hilltop Holdings Inc. increased its position in Lincoln Electric by 2.5% during the fourth quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company's stock worth $439,000 after acquiring an additional 45 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company's stock worth $1,045,000 after purchasing an additional 52 shares in the last quarter. Sumitomo Life Insurance Co. raised its stake in Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company's stock worth $1,034,000 after purchasing an additional 52 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Lincoln Electric by 9.4% in the 1st quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company's stock valued at $151,000 after purchasing an additional 52 shares during the period. 79.61% of the stock is currently owned by institutional investors.

About Lincoln Electric

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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