Brokerages Set ESAB Co. (NYSE:ESAB) PT at $99.38

Shares of ESAB Co. (NYSE:ESAB) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $99.38.

Several equities analysts recently commented on the company. Oppenheimer began coverage on ESAB in a report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 target price on the stock. Stifel Nicolaus dropped their price objective on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in ESAB by 1.2% in the third quarter. Vanguard Group Inc. now owns 5,578,527 shares of the company’s stock valued at $391,724,000 after buying an additional 63,948 shares during the last quarter. SG Americas Securities LLC boosted its stake in ESAB by 169.2% during the 4th quarter. SG Americas Securities LLC now owns 35,675 shares of the company’s stock worth $3,090,000 after purchasing an additional 22,425 shares during the period. Pacer Advisors Inc. grew its position in ESAB by 59.4% during the 4th quarter. Pacer Advisors Inc. now owns 11,091 shares of the company’s stock worth $961,000 after purchasing an additional 4,132 shares during the last quarter. Quent Capital LLC increased its stake in ESAB by 10.1% in the fourth quarter. Quent Capital LLC now owns 1,585 shares of the company’s stock valued at $137,000 after purchasing an additional 146 shares during the period. Finally, Oak Thistle LLC purchased a new stake in shares of ESAB in the fourth quarter valued at about $918,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of ESAB stock opened at $98.94 on Tuesday. The business has a 50-day simple moving average of $97.56 and a 200-day simple moving average of $99.05. 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 has a one year low of $61.43 and a one year high of $114.77. The company has a market cap of $5.98 billion, a PE ratio of 25.90, a P/E/G ratio of 1.74 and a beta of 1.43.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 EPS for the quarter, topping 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 company had revenue of $690.00 million during the quarter, compared to analysts’ expectations of $653.93 million. During the same quarter in the previous year, the business posted $1.04 EPS. The firm’s revenue was up .9% on a year-over-year basis. On average, equities research analysts forecast that ESAB will post 4.9 EPS for the current fiscal year.

ESAB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a dividend of $0.08 per share. The ex-dividend date was Friday, June 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. This is a boost from ESAB’s previous quarterly dividend of $0.06. ESAB’s payout ratio is 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.