Lincoln Electric Holdings Inc. (LECO) Price Target Increased to $58.00 by Analysts at Barclays PLC
Lincoln Electric Holdings Inc. (NASDAQ:LECO) had its price target raised by investment analysts at Barclays PLC from $55.00 to $58.00 in a research note issued to investors on Wednesday. The brokerage presently has an “equal weight” rating on the stock. Barclays PLC’s price target points to a potential downside of 6.15% from the company’s current price.
Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Lincoln Electric Holdings from a “hold” rating to a “sell” rating in a research report on Monday, October 3rd. Deutsche Bank AG started coverage on Lincoln Electric Holdings in a research report on Tuesday, September 6th. They set a “hold” rating and a $70.00 price objective for the company. Wellington Shields downgraded Lincoln Electric Holdings to a “hold” rating in a research report on Wednesday, August 24th. TheStreet raised Lincoln Electric Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, August 17th. Finally, Wunderlich lowered their price objective on Lincoln Electric Holdings from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $66.50.
Lincoln Electric Holdings (NASDAQ:LECO) traded up 0.40% during trading on Wednesday, hitting $62.05. 19,826 shares of the stock traded hands. The stock has a market cap of $4.17 billion, a P/E ratio of 60.65 and a beta of 1.10. The stock has a 50 day moving average price of $62.67 and a 200-day moving average price of $61.23. Lincoln Electric Holdings has a 52-week low of $45.54 and a 52-week high of $65.33.
Lincoln Electric Holdings (NASDAQ:LECO) last released its earnings results on Monday, July 25th. The company reported $0.83 earnings per share for the quarter, meeting the consensus estimate of $0.83. The company earned $592.40 million during the quarter, compared to the consensus estimate of $589.08 million. Lincoln Electric Holdings had a return on equity of 25.46% and a net margin of 3.11%. Lincoln Electric Holdings’s revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 EPS. On average, analysts anticipate that Lincoln Electric Holdings will post $3.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, September 28th. Lincoln Electric Holdings’s dividend payout ratio (DPR) is 119.63%.
Large investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Lincoln Electric Holdings during the first quarter worth $2,762,000. Riverhead Capital Management LLC boosted its stake in shares of Lincoln Electric Holdings by 84.3% in the first quarter. Riverhead Capital Management LLC now owns 24,510 shares of the company’s stock worth $1,436,000 after buying an additional 11,210 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Lincoln Electric Holdings during the first quarter worth $217,000. UBS Group AG boosted its stake in shares of Lincoln Electric Holdings by 25.2% in the first quarter. UBS Group AG now owns 126,384 shares of the company’s stock worth $7,401,000 after buying an additional 25,473 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Lincoln Electric Holdings by 141.6% in the first quarter. State Street Corp now owns 4,503,670 shares of the company’s stock worth $263,783,000 after buying an additional 2,639,676 shares in the last quarter. Institutional investors own 65.26% of the company’s stock.
About Lincoln Electric Holdings
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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