ESAB Co. (NYSE:ESAB) Receives Consensus Rating of “Hold” from Brokerages

ESAB Co. (NYSE:ESAB) has earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $133.43.

A number of equities research analysts recently issued reports on ESAB shares. Stifel Nicolaus cut ESAB from a “buy” rating to a “hold” rating and lowered their price objective for the company from $138.00 to $130.00 in a research note on Monday, November 18th. Jefferies Financial Group initiated coverage on shares of ESAB in a research note on Thursday, December 12th. They set a “buy” rating and a $160.00 price target on the stock. Evercore ISI downgraded shares of ESAB from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th. Loop Capital boosted their target price on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th.

Insider Activity at ESAB

In other news, CFO Kevin J. Johnson sold 5,044 shares of ESAB 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 completion of the sale, the chief financial officer now directly owns 11,433 shares of the company’s stock, valued at approximately $1,429,125. The trade was a 30.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total value of $7,269,395.20. Following the completion of the transaction, the chief executive officer now directly owns 53,902 shares in the company, valued at approximately $6,627,789.92. This represents a 52.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,418 shares of company stock valued at $8,431,773. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On ESAB

A number of hedge funds and other institutional investors have recently modified their holdings of ESAB. JPMorgan Chase & Co. boosted its stake in ESAB by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock worth $202,001,000 after buying an additional 337,983 shares in the last quarter. Edgestream Partners L.P. boosted its stake in shares of ESAB by 44.3% in the 2nd quarter. Edgestream Partners L.P. now owns 64,239 shares of the company’s stock valued at $6,066,000 after purchasing an additional 19,721 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of ESAB by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 31,712 shares of the company’s stock valued at $3,536,000 after purchasing an additional 9,062 shares during the last quarter. Envestnet Asset Management Inc. raised its position in ESAB by 8.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 71,700 shares of the company’s stock worth $6,771,000 after purchasing an additional 5,771 shares during the period. Finally, Barclays PLC lifted its stake in ESAB by 46.7% in the third quarter. Barclays PLC now owns 31,513 shares of the company’s stock worth $3,349,000 after purchasing an additional 10,027 shares during the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Stock Up 1.6 %

ESAB stock opened at $116.91 on Tuesday. The firm has a 50 day moving average price of $125.32 and a 200-day moving average price of $110.18. 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 $82.64 and a twelve month high of $135.97. The company has a market capitalization of $7.07 billion, a P/E ratio of 27.38, a P/E/G ratio of 2.23 and a beta of 1.37.

ESAB (NYSE:ESAB) last released its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The business had revenue of $673.00 million during the quarter, compared to the consensus estimate of $620.50 million. During the same period last year, the business posted $1.08 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities analysts predict that ESAB will post 4.93 EPS for the current year.

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. ESAB’s dividend payout ratio (DPR) is presently 7.49%.

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.