Lincoln Electric (NASDAQ:LECO) Given New $265.00 Price Target at Loop Capital

Lincoln Electric (NASDAQ:LECO) had its target price reduced by research analysts at Loop Capital from $285.00 to $265.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Loop Capital’s target price indicates a potential upside of 30.33% from the company’s current price.

LECO has been the topic of several other reports. Stifel Nicolaus decreased their price target on shares of Lincoln Electric from $241.00 to $238.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Lincoln Electric in a research note on Monday, April 29th. Robert W. Baird dropped their price target on Lincoln Electric from $252.00 to $236.00 and set an “outperform” rating for the company in a research note on Friday. Finally, KeyCorp cut their price objective on Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $225.29.

Lincoln Electric Price Performance

Shares of LECO stock traded down $2.24 during trading hours on Friday, reaching $203.33. The company’s stock had a trading volume of 249,576 shares, compared to its average volume of 293,054. Lincoln Electric has a fifty-two week low of $164.00 and a fifty-two week high of $261.13. The firm’s 50 day simple moving average is $238.37 and its 200-day simple moving average is $226.18. The company has a quick ratio of 1.49, a current ratio of 2.24 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 1.58 and a beta of 1.23.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.08. Lincoln Electric had a return on equity of 43.81% and a net margin of 13.23%. The business had revenue of $981.20 million for the quarter, compared to analyst estimates of $1.04 billion. Lincoln Electric’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm posted $2.13 earnings per share. Sell-side analysts forecast that Lincoln Electric will post 9.6 earnings per share for the current year.

Insiders Place Their Bets

In other Lincoln Electric news, SVP Geoffrey P. Allman sold 3,306 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $252.33, for a total value of $834,202.98. Following the sale, the senior vice president now owns 9,150 shares of the company’s stock, valued at approximately $2,308,819.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Riverview Trust Co purchased a new position in shares of Lincoln Electric in the 1st quarter worth about $26,000. Contravisory Investment Management Inc. bought a new stake in shares of Lincoln Electric during the fourth quarter valued at approximately $27,000. Capital Advisors Ltd. LLC raised its holdings in Lincoln Electric by 194.4% in the 1st quarter. Capital Advisors Ltd. LLC now owns 106 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC lifted its position in Lincoln Electric by 81.1% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 172 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 77 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in Lincoln Electric during the 4th quarter valued at $32,000. 79.61% of the stock is currently owned by institutional investors.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.