Brokerages Set ESAB Co. (NYSE:ESAB) PT at $98.63

ESAB Co. (NYSE:ESAB) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $98.63.

Several equities research analysts have recently commented on ESAB shares. Oppenheimer started coverage on shares of ESAB in a research report on Thursday, June 20th. They set an “outperform” rating and a $115.00 target price for the company. Evercore ISI increased their price objective on ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. raised ESAB from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $111.00 to $125.00 in a research report on Monday, March 18th.

Hedge Funds Weigh In On ESAB

A number of hedge funds and other institutional investors have recently made changes to their positions in ESAB. Treasurer of the State of North Carolina raised its position in ESAB by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 24,776 shares of the company’s stock worth $1,740,000 after acquiring an additional 130 shares during the period. Quent Capital LLC raised its holdings in shares of ESAB by 8.4% in the 1st quarter. Quent Capital LLC now owns 1,718 shares of the company’s stock worth $190,000 after purchasing an additional 133 shares during the period. Lawson Kroeker Investment Management Inc. NE raised its holdings in shares of ESAB by 1.0% in the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 14,078 shares of the company’s stock worth $1,219,000 after purchasing an additional 144 shares during the period. Raleigh Capital Management Inc. lifted its stake in ESAB by 23.4% in the third quarter. Raleigh Capital Management Inc. now owns 811 shares of the company’s stock valued at $57,000 after purchasing an additional 154 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in ESAB by 57.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock valued at $36,000 after purchasing an additional 154 shares during the period. 91.13% of the stock is owned by hedge funds and other institutional investors.

ESAB Trading Down 0.2 %

Shares of ESAB stock opened at $92.60 on Friday. The stock has a market capitalization of $5.59 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.64 and a beta of 1.43. ESAB has a 52 week low of $61.43 and a 52 week high of $114.77. The stock has a 50 day moving average price of $101.37 and a two-hundred day moving average price of $97.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.65.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The business had revenue of $690.00 million during the quarter, compared to the consensus estimate of $653.93 million. During the same quarter last year, the firm posted $1.04 EPS. ESAB’s revenue was up .9% compared to the same quarter last year. As a group, equities analysts anticipate that ESAB will post 4.91 earnings per share for the current fiscal year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.35%. This is an increase from ESAB’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, June 28th. ESAB’s dividend payout ratio (DPR) is presently 8.38%.

ESAB Company Profile

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.