Morgan Stanley Boosts Lincoln Electric (NASDAQ:LECO) Price Target to $247.00

Lincoln Electric (NASDAQ:LECO) had its target price hoisted by equities research analysts at Morgan Stanley from $240.00 to $247.00 in a report issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the industrial products company’s stock. Morgan Stanley’s target price indicates a potential upside of 0.77% from the stock’s current price.

A number of other analysts have also issued reports on LECO. Stifel Nicolaus boosted their target price on shares of Lincoln Electric from $253.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, February 13th. KeyCorp upped their price objective on shares of Lincoln Electric from $280.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Roth Mkm reissued a “buy” rating and set a $297.00 target price (up from $285.00) on shares of Lincoln Electric in a research report on Tuesday, February 3rd. Barclays upped their price target on Lincoln Electric from $280.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Finally, Wall Street Zen cut Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lincoln Electric has an average rating of “Moderate Buy” and an average target price of $304.00.

Lincoln Electric Stock Down 1.2%

Shares of Lincoln Electric stock traded down $2.88 during trading on Monday, hitting $245.12. The company’s stock had a trading volume of 136,439 shares, compared to its average volume of 358,381. Lincoln Electric has a 52 week low of $161.11 and a 52 week high of $310.00. The company has a market capitalization of $13.44 billion, a PE ratio of 26.30, a P/E/G ratio of 1.54 and a beta of 1.24. The company has a fifty day simple moving average of $272.07 and a two-hundred day simple moving average of $250.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.16 and a current ratio of 1.82.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, February 12th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Lincoln Electric had a net margin of 12.30% and a return on equity of 39.35%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted $2.57 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts predict that Lincoln Electric will post 9.36 earnings per share for the current year.

Hedge Funds Weigh In On Lincoln Electric

Several hedge funds have recently bought and sold shares of the company. Quent Capital LLC purchased a new position in shares of Lincoln Electric in the third quarter valued at approximately $27,000. Frazier Financial Advisors LLC lifted its holdings in Lincoln Electric by 3,700.0% during the 3rd quarter. Frazier Financial Advisors LLC now owns 114 shares of the industrial products company’s stock worth $27,000 after buying an additional 111 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in Lincoln Electric during the 4th quarter worth approximately $27,000. Root Financial Partners LLC acquired a new position in shares of Lincoln Electric in the third quarter worth $31,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Lincoln Electric during the fourth quarter worth $46,000. Institutional investors and hedge funds own 79.61% of the company’s stock.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.