ESAB (NYSE:ESAB) Earns Outperform Rating from Oppenheimer

ESAB (NYSE:ESAB)‘s stock had its “outperform” rating reissued by research analysts at Oppenheimer in a report released on Friday,Benzinga reports. They currently have a $144.00 target price on the stock, up from their prior target price of $138.00. Oppenheimer’s price objective would indicate a potential upside of 7.86% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus decreased their price objective on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Bank of America raised their price target on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Loop Capital increased their target price on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Evercore ISI lowered their price target on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.86.

ESAB Price Performance

Shares of NYSE:ESAB traded up $1.13 during trading on Friday, reaching $133.51. 16,802 shares of the company’s stock traded hands, compared to its average volume of 251,028. The firm has a market cap of $8.07 billion, a PE ratio of 31.33, a P/E/G ratio of 2.09 and a beta of 1.37. ESAB has a fifty-two week low of $75.24 and a fifty-two week high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $108.11 and a 200-day simple moving average of $102.79.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The business had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. During the same period in the previous year, the business earned $1.08 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. As a group, analysts predict that ESAB will post 4.94 earnings per share for the current year.

Insider Activity at ESAB

In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total value of $7,269,395.20. Following the completion of the sale, the chief executive officer now directly owns 53,902 shares in the company, valued at $6,627,789.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total value of $7,269,395.20. Following the transaction, the chief executive officer now directly owns 53,902 shares in the company, valued at $6,627,789.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin J. Johnson sold 5,044 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total transaction of $630,500.00. Following the sale, the chief financial officer now owns 11,433 shares of the company’s stock, valued at $1,429,125. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,418 shares of company stock valued at $8,431,773. 7.00% of the stock is currently owned by insiders.

Institutional Trading of ESAB

Several institutional investors have recently added to or reduced their stakes in ESAB. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ESAB in the first quarter valued at $3,913,000. Russell Investments Group Ltd. grew its position in ESAB by 37.7% in the 1st quarter. Russell Investments Group Ltd. now owns 116,097 shares of the company’s stock valued at $12,836,000 after acquiring an additional 31,780 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of ESAB by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock worth $710,316,000 after purchasing an additional 653,377 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of ESAB by 7.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 432,356 shares of the company’s stock valued at $40,827,000 after purchasing an additional 29,453 shares during the period. Finally, Edgestream Partners L.P. grew its holdings in shares of ESAB by 44.3% in the second quarter. Edgestream Partners L.P. now owns 64,239 shares of the company’s stock valued at $6,066,000 after purchasing an additional 19,721 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

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.