ESAB (NYSE:ESAB) Price Target Cut to $120.00 by Analysts at JPMorgan Chase & Co.

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

A number of other equities research analysts have also weighed in on the company. Oppenheimer began coverage on ESAB in a report on Thursday, June 20th. They issued an outperform rating and a $115.00 price objective on the stock. Stifel Nicolaus decreased their price target on ESAB from $130.00 to $120.00 and set a buy rating on the stock in a research note on Thursday, July 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $108.29.

ESAB Trading Up 1.9 %

NYSE:ESAB opened at $94.80 on Monday. ESAB has a 12-month low of $61.43 and a 12-month high of $114.77. 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 stock’s 50 day simple moving average is $96.22 and its 200-day simple moving average is $99.60. The firm has a market cap of $5.73 billion, a P/E ratio of 24.82, a PEG ratio of 1.71 and a beta of 1.42.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Friday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The company had revenue of $707.10 million for the quarter, compared to analysts’ expectations of $686.75 million. During the same period in the previous year, the company posted $1.21 EPS. ESAB’s revenue was down 1.8% compared to the same quarter last year. Equities analysts anticipate that ESAB will post 4.9 EPS for the current year.

Institutional Investors Weigh In On ESAB

A number of institutional investors and hedge funds have recently modified their holdings of the company. Whittier Trust Co. boosted its position in ESAB by 302.6% during the first quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares in the last quarter. ORG Partners LLC purchased a new position in shares of ESAB in the first quarter valued at $35,000. Nomura Asset Management Co. Ltd. raised its stake in shares of ESAB by 57.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock worth $36,000 after buying an additional 154 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in ESAB in the 4th quarter valued at about $39,000. Finally, Hantz Financial Services Inc. acquired a new stake in ESAB in the 2nd quarter valued at about $42,000. 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.