ESAB Corporation (NYSE:ESAB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of ESAB Corporation (NYSE:ESAB) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $140.6250.

A number of equities research analysts have commented on ESAB shares. Weiss Ratings downgraded shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. JPMorgan Chase & Co. cut their price target on shares of ESAB from $138.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. Oppenheimer boosted their price objective on ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Finally, Stifel Nicolaus lifted their price objective on shares of ESAB from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, January 23rd.

Hedge Funds Weigh In On ESAB

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in shares of ESAB in the 3rd quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new stake in ESAB in the fourth quarter valued at $33,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of ESAB by 109.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after purchasing an additional 174 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of ESAB by 259.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the period. Finally, Global Retirement Partners LLC grew its stake in shares of ESAB by 3,023.1% during the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after purchasing an additional 393 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Down 1.6%

Shares of NYSE ESAB opened at $128.52 on Wednesday. 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 business’s 50 day moving average is $120.88 and its two-hundred day moving average is $116.27. ESAB has a 52-week low of $100.17 and a 52-week high of $137.42. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 2.38 and a beta of 1.24.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Friday, February 20th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.01. The business had revenue of $720.99 million during the quarter, compared to analysts’ expectations of $687.80 million. ESAB had a return on equity of 15.64% and a net margin of 7.98%.The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 EPS. Research analysts predict that ESAB will post 5.16 EPS for the current year.

ESAB Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Wednesday, December 31st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, December 31st. ESAB’s dividend payout ratio is currently 10.81%.

ESAB Company Profile

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.