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

Shares of ESAB Corporation (NYSE:ESAB) have earned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $145.25.

A number of brokerages have commented on ESAB. JPMorgan Chase & Co. increased their price objective on shares of ESAB from $130.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Stifel Nicolaus boosted their target price on shares of ESAB from $144.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Wall Street Zen raised ESAB from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings cut ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Finally, Oppenheimer boosted their target price on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd.

ESAB Trading Down 5.5%

ESAB opened at $97.89 on Friday. The business has a fifty day moving average price of $121.31 and a 200 day moving average price of $116.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.17. ESAB has a 12 month low of $97.54 and a 12 month high of $137.42. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 1.81 and a beta of 1.23.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Friday, February 20th. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The company had revenue of $687.00 million for the quarter, compared to analyst estimates of $687.80 million. During the same quarter last year, the company earned $1.28 EPS. ESAB’s revenue for the quarter was up 7.5% compared to the same quarter last year. Sell-side analysts expect that ESAB will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Thursday, April 2nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. ESAB’s dividend payout ratio (DPR) is 10.81%.

Insider Activity at ESAB

In related news, CEO Shyam Kambeyanda sold 59,404 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the sale, the chief executive officer owned 99,864 shares of the company’s stock, valued at approximately $12,362,164.56. The trade was a 37.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On ESAB

A number of institutional investors and hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans raised 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 worth $1,617,000 after purchasing an additional 95 shares during the last quarter. Xponance Inc. raised its stake in shares of ESAB by 1.6% during the 3rd quarter. Xponance Inc. now owns 6,488 shares of the company’s stock worth $725,000 after buying an additional 102 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of ESAB by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 2,527 shares of the company’s stock worth $305,000 after buying an additional 106 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in ESAB by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock valued at $2,191,000 after acquiring an additional 107 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in ESAB by 5.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock valued at $300,000 after acquiring an additional 149 shares during the last quarter. Institutional investors and hedge funds 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.