ESAB (NYSE:ESAB) PT Lowered to $120.00

ESAB (NYSE:ESAB) had its price target trimmed by JPMorgan Chase & Co. from $125.00 to $120.00 in a research report sent to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also issued reports on ESAB. Stifel Nicolaus cut 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. Oppenheimer assumed coverage on ESAB in a research note on Thursday, June 20th. They set an outperform rating and a $115.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $108.29.

ESAB Trading Up 1.9 %

Shares of NYSE:ESAB opened at $94.80 on Monday. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $5.73 billion, a PE ratio of 24.82, a P/E/G ratio of 1.71 and a beta of 1.42. ESAB has a 12-month low of $61.43 and a 12-month high of $114.77. The business’s fifty day simple moving average is $96.22 and its 200-day simple moving average is $99.60.

ESAB (NYSE:ESAB) last announced its earnings results on Friday, August 2nd. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The business had revenue of $707.10 million during the quarter, compared to the consensus estimate of $686.75 million. During the same period in the previous year, the company posted $1.21 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts predict that ESAB will post 4.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ESAB

Several hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. boosted its stake in shares of ESAB by 302.6% in the first quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after buying an additional 236 shares during the last quarter. ORG Partners LLC purchased a new position in shares of ESAB during the 1st quarter valued at approximately $35,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of ESAB by 57.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock valued at $36,000 after purchasing an additional 154 shares during the period. Johnson Financial Group Inc. purchased a new stake in ESAB during the fourth quarter worth $39,000. Finally, Hantz Financial Services Inc. acquired a new stake in ESAB during the second quarter valued at $42,000. 91.13% of the stock is owned by hedge funds and other institutional investors.

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.