Stifel Nicolaus Cuts ESAB (NYSE:ESAB) Price Target to $125.00

ESAB (NYSE:ESAB) had its target price trimmed by Stifel Nicolaus from $131.00 to $125.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts also recently issued research 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. Jefferies Financial Group began coverage on ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective for the company. Oppenheimer reissued an “outperform” rating and issued a $144.00 price objective (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. Finally, Evercore ISI downgraded ESAB from an “in-line” rating to an “underperform” rating and raised their price target for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $133.43.

ESAB Trading Down 0.0 %

NYSE:ESAB opened at $120.07 on Friday. The company has a market cap of $7.26 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. ESAB has a twelve month low of $88.54 and a twelve month high of $135.97. The business has a 50 day moving average price of $122.57 and a two-hundred day moving average price of $115.61.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.15 by $0.13. The company had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. As a group, analysts expect that ESAB will post 4.92 EPS for the current fiscal year.

ESAB Dividend Announcement

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 annualized dividend and a yield of 0.27%. The ex-dividend date was Tuesday, December 31st. ESAB’s dividend payout ratio is 7.41%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ESAB. EverSource Wealth Advisors LLC increased its position in ESAB by 70.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $26,000 after buying an additional 90 shares during the period. ORG Wealth Partners LLC bought a new position in ESAB during the 4th quarter worth $34,000. Trust Co. of Vermont increased its position in ESAB by 871.0% during the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after buying an additional 270 shares during the period. SBI Securities Co. Ltd. bought a new position in ESAB during the 4th quarter worth $36,000. Finally, Kapitalo Investimentos Ltda bought a new position in ESAB during the 4th quarter worth $47,000. Institutional investors 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.