Oppenheimer Cuts ESAB (NYSE:ESAB) Price Target to $135.00

ESAB (NYSE:ESAB) had its price objective lowered by Oppenheimer from $140.00 to $135.00 in a research report released on Tuesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. DA Davidson began coverage on shares of ESAB in a research report on Monday, June 15th. They set a “buy” rating and a $130.00 price target on the stock. Stifel Nicolaus lowered their price objective on shares of ESAB from $141.00 to $137.00 and set a “buy” rating for the company in a report on Monday. Weiss Ratings cut ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and set a $130.00 target price (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Finally, Roth Capital increased their target price on ESAB from $142.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.38.

ESAB Price Performance

ESAB opened at $83.78 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.26 and a current ratio of 2.97. The stock has a market capitalization of $5.10 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17. The stock’s 50 day moving average price is $92.12 and its 200-day moving average price is $104.40. ESAB has a 52-week low of $82.18 and a 52-week high of $137.42.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $745.60 million during the quarter, compared to analysts’ expectations of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. On average, equities research analysts predict that ESAB will post 5.72 EPS for the current year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were given a dividend of $0.12 per share. This is an increase from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. ESAB’s dividend payout ratio is 14.20%.

Institutional Investors Weigh In On ESAB

Hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans lifted its holdings in ESAB by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock valued at $1,617,000 after purchasing an additional 95 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of ESAB by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock worth $2,191,000 after purchasing an additional 107 shares during the period. HB Wealth Management LLC increased its stake in shares of ESAB by 5.0% in the first quarter. HB Wealth Management LLC now owns 2,479 shares of the company’s stock worth $240,000 after purchasing an additional 118 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of ESAB by 5.9% in the third quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock worth $300,000 after purchasing an additional 149 shares in the last quarter. Finally, Lafayette Investments Inc. raised its position in shares of ESAB by 0.5% during the 4th quarter. Lafayette Investments Inc. now owns 34,266 shares of the company’s stock valued at $3,828,000 after purchasing an additional 161 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

About ESAB

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.