Brokerages Set ESAB Corporation (NYSE:ESAB) Target Price at $143.33

Shares of ESAB Corporation (NYSE:ESAB) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $143.3333.

Several research analysts have issued reports on the company. Roth Capital began coverage on ESAB in a research note on Friday, September 5th. They set a “buy” rating and a $150.00 price objective for the company. Loop Capital upgraded shares of ESAB from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $140.00 in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of ESAB from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ESAB in a report on Monday, December 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of ESAB from $138.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th.

Institutional Trading of ESAB

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers lifted its position in ESAB by 57.2% during the 1st quarter. Cetera Investment Advisers now owns 23,666 shares of the company’s stock worth $2,757,000 after buying an additional 8,610 shares in the last quarter. LPL Financial LLC lifted its position in shares of ESAB by 38.3% during the first quarter. LPL Financial LLC now owns 61,466 shares of the company’s stock worth $7,161,000 after purchasing an additional 17,027 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of ESAB by 21.6% during the first quarter. Natixis Advisors LLC now owns 19,544 shares of the company’s stock valued at $2,277,000 after purchasing an additional 3,466 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of ESAB during the first quarter valued at approximately $265,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of ESAB by 20.1% in the first quarter. PNC Financial Services Group Inc. now owns 1,844 shares of the company’s stock valued at $215,000 after purchasing an additional 308 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Stock Down 2.3%

Shares of ESAB opened at $110.68 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $114.60 and a two-hundred day moving average price of $118.25. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 2.15 and a beta of 1.24. ESAB has a 12 month low of $100.17 and a 12 month high of $135.84.

ESAB (NYSE:ESAB) last issued its earnings results on Wednesday, October 29th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The business had revenue of $727.85 million during the quarter, compared to analysts’ expectations of $663.57 million. ESAB had a return on equity of 15.93% and a net margin of 8.70%.ESAB’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. Equities analysts predict that ESAB will post 5.16 EPS for the current fiscal year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st will be given a $0.10 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.40 annualized dividend and a yield of 0.4%. ESAB’s payout ratio is presently 10.08%.

About ESAB

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.