ESAB’s (ESAB) “Outperform” Rating Reaffirmed at Oppenheimer

ESAB (NYSE:ESAB)‘s stock had its “outperform” rating reiterated by equities research analysts at Oppenheimer in a research note issued on Friday,Benzinga reports. They presently have a $144.00 price target on the stock, up from their previous price target of $138.00. Oppenheimer’s target price indicates a potential upside of 7.86% from the stock’s current price.

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

ESAB Stock Up 0.9 %

Shares of ESAB stock traded up $1.13 during mid-day trading on Friday, hitting $133.51. The stock had a trading volume of 16,802 shares, compared to its average volume of 251,028. ESAB has a 12-month low of $75.24 and a 12-month high of $135.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25. The firm’s 50-day moving average is $108.11 and its two-hundred day moving average is $102.79. The firm has a market capitalization of $8.07 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 2.09 and a beta of 1.37.

ESAB (NYSE:ESAB) last issued its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.13. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The company had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $620.50 million. During the same period in the prior year, the business earned $1.08 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts predict that ESAB will post 4.94 earnings per share for the current fiscal year.

Insider Transactions at ESAB

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

Institutional Trading of ESAB

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings 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 during the last quarter. Royce & Associates LP lifted its holdings in shares of ESAB by 8.6% in the 3rd quarter. Royce & Associates LP now owns 749,752 shares of the company’s stock valued at $79,706,000 after buying an additional 59,447 shares during the period. TD Asset Management Inc boosted its stake in shares of ESAB by 5.4% in the second quarter. TD Asset Management Inc now owns 531,122 shares of the company’s stock worth $50,154,000 after buying an additional 27,202 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in ESAB by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 490,532 shares of the company’s stock worth $46,321,000 after acquiring an additional 21,025 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in ESAB by 7.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 466,517 shares of the company’s stock valued at $49,595,000 after acquiring an additional 34,161 shares during the period. 91.13% of the stock is currently owned by institutional investors and hedge funds.

About ESAB

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.