ESAB (NYSE:ESAB) Stock Price Target Lowered at UBS Group

ESAB (NYSE:ESAB) had its price target cut by UBS Group from $145.00 to $115.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of ESAB from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Oppenheimer reduced their price objective on shares of ESAB from $135.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. Stifel Nicolaus set a $114.00 target price on ESAB in a research report on Monday, October 19th. Roth Capital reaffirmed a “buy” rating and set a $133.00 target price (down from $151.00) on shares of ESAB in a research report on Tuesday, September 15th. Finally, JPMorgan Chase & Co. cut their target price on ESAB from $125.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, October 8th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $118.14.

ESAB Stock Performance

ESAB stock opened at $79.15 on Thursday. The business has a 50 day moving average of $69.83 and a 200-day moving average of $92.71. The company has a market capitalization of $4.92 billion, a P/E ratio of 32.05, a P/E/G ratio of 1.27 and a beta of 1.17. ESAB has a 1 year low of $62.74 and a 1 year high of $137.42. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.92 and a quick ratio of 1.22.

ESAB (NYSE:ESAB) last posted its earnings results on Wednesday, November 4th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). ESAB had a return on equity of 14.17% and a net margin of 5.05%. The business had revenue of $824.52 million for the quarter, compared to analyst estimates of $786.68 million. During the same quarter in the prior year, the business earned $1.32 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities research analysts predict that ESAB will post 5.30 earnings per share for the current year.

ESAB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, October 2nd. ESAB’s dividend payout ratio is currently 19.43%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE acquired a new stake in shares of ESAB during the 2nd quarter worth approximately $22,938,000. Medina Value Partners LLC acquired a new position in shares of ESAB during the 2nd quarter valued at $22,234,753. Tidal Investments LLC bought a new position in ESAB during the second quarter worth $2,195,000. Legal & General Group Plc bought a new position in ESAB during the second quarter worth $7,223,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in ESAB in the second quarter worth $51,843,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Company Profile

ESAB Corporation (NYSE: ESAB) is a global provider of welding and cutting technologies. The company develops and supplies equipment, consumables, automation solutions and related products used to join, cut and process metals across industrial and commercial applications.

Its product portfolio includes welding machines, cutting systems, welding electrodes and wires, filler metals, gas-control equipment, plasma and oxyfuel technologies, and digital or automated solutions. ESAB also offers products and services designed to support fabrication, manufacturing, construction, transportation, energy and maintenance operations.

ESAB serves customers in the Americas, Europe, the Middle East, Africa and the Asia-Pacific region through a portfolio of established brands and distribution channels.