ESAB (NYSE:ESAB) Upgraded at Evercore ISI

Evercore ISI upgraded shares of ESAB (NYSE:ESAB) from an underperform rating to an inline rating in a report published on Monday, Marketbeat Ratings reports. The firm currently has $120.00 price target on the stock, down from their prior price target of $122.00.

Other analysts also recently issued reports about the company. Loop Capital increased their price objective on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price target on ESAB from $135.00 to $133.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 price objective (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Jefferies Financial Group initiated coverage on shares of ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 target price for the company. Finally, Stifel Nicolaus lowered their price target on shares of ESAB from $131.00 to $125.00 and set a “hold” rating for the company in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.14.

ESAB Price Performance

Shares of ESAB opened at $124.51 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. The stock has a market cap of $7.54 billion, a PE ratio of 28.82, a PEG ratio of 2.01 and a beta of 1.36. ESAB has a 12-month low of $88.54 and a 12-month high of $135.97. The business has a 50-day simple moving average of $122.29 and a two-hundred day simple moving average of $116.36.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The company had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. Analysts anticipate that ESAB will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Tuesday, December 31st. ESAB’s payout ratio is 7.41%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ESAB. Blue Trust Inc. grew its holdings in ESAB by 629.8% in the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after purchasing an additional 529 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of ESAB in the 3rd quarter valued at about $15,110,000. State of Alaska Department of Revenue raised its stake in ESAB by 1.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 33,463 shares of the company’s stock worth $3,556,000 after buying an additional 445 shares during the period. Van ECK Associates Corp boosted its holdings in ESAB by 40.0% in the third quarter. Van ECK Associates Corp now owns 31,712 shares of the company’s stock worth $3,536,000 after acquiring an additional 9,062 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in ESAB by 20.4% in the third quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company’s stock valued at $119,000 after acquiring an additional 190 shares during the period. 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.