Analysts Set ESAB Co. (NYSE:ESAB) PT at $93.75

Shares of ESAB Co. (NYSE:ESAB) have earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $93.75.

ESAB has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of ESAB from $93.00 to $100.00 and gave the company an “in-line” rating in a research report on Tuesday, March 5th. Stifel Nicolaus increased their price objective on shares of ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. upgraded shares of ESAB from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $111.00 to $125.00 in a research report on Monday, March 18th.

ESAB Trading Down 0.6 %

Shares of NYSE ESAB opened at $105.79 on Friday. The firm’s 50 day moving average price is $102.30 and its 200-day moving average price is $87.13. The company has a market cap of $6.39 billion, a PE ratio of 31.49, a P/E/G ratio of 2.19 and a beta of 1.54. ESAB has a 52-week low of $55.37 and a 52-week high of $114.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.98 and a current ratio of 1.61.

ESAB (NYSE:ESAB) last issued its earnings results on Thursday, February 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. The firm had revenue of $689.40 million for the quarter, compared to the consensus estimate of $644.51 million. ESAB had a net margin of 7.40% and a return on equity of 17.57%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 earnings per share. On average, equities research analysts expect that ESAB will post 4.82 EPS for the current fiscal year.

ESAB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. ESAB’s dividend payout ratio is presently 7.14%.

Insider Buying and Selling

In other ESAB news, Director Rajiv Vinnakota sold 856 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $99.50, for a total transaction of $85,172.00. Following the transaction, the director now owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ESAB news, Director Rajiv Vinnakota sold 856 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $99.50, for a total transaction of $85,172.00. Following the transaction, the director now owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Didier P. Teirlinck sold 2,512 shares of ESAB stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $99.00, for a total transaction of $248,688.00. Following the completion of the transaction, the director now directly owns 33,863 shares in the company, valued at approximately $3,352,437. The disclosure for this sale can be found here. Insiders have sold 10,833 shares of company stock valued at $1,074,985 in the last 90 days. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. 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 acquiring an additional 154 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in ESAB during the 4th quarter worth approximately $39,000. Huntington National Bank grew its position in ESAB by 55.5% during the 3rd quarter. Huntington National Bank now owns 647 shares of the company’s stock worth $45,000 after purchasing an additional 231 shares during the last quarter. Raleigh Capital Management Inc. grew its position in ESAB by 23.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 811 shares of the company’s stock worth $57,000 after purchasing an additional 154 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in ESAB during the 2nd quarter worth approximately $46,000. 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.