ESAB Corporation (NYSE:ESAB) Receives Average Recommendation of “Moderate Buy” from Brokerages

ESAB Corporation (NYSE:ESAB) has received an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $139.50.

A number of research analysts have recently commented on the company. Stifel Nicolaus set a $141.00 price target on ESAB in a research note on Friday, May 8th. Jefferies Financial Group restated a “buy” rating and set a $130.00 price objective (down from $150.00) on shares of ESAB in a research report on Tuesday, March 31st. JPMorgan Chase & Co. lowered their target price on ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, April 10th. Wall Street Zen downgraded ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, DA Davidson began coverage on ESAB in a research note on Monday, June 15th. They set a “buy” rating and a $130.00 price target on the stock.

Institutional Investors Weigh In On ESAB

A number of institutional investors have recently added to or reduced their stakes in the business. Hudson Value Partners LLC grew its stake in shares of ESAB by 19.9% in the second quarter. Hudson Value Partners LLC now owns 65,729 shares of the company’s stock worth $6,483,000 after purchasing an additional 10,915 shares during the last quarter. Defender Capital LLC. raised its position in ESAB by 23.2% during the 2nd quarter. Defender Capital LLC. now owns 36,564 shares of the company’s stock worth $3,606,000 after purchasing an additional 6,877 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in ESAB by 3.0% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 11,137 shares of the company’s stock worth $1,098,000 after purchasing an additional 328 shares during the last quarter. Moody National Bank Trust Division raised its position in ESAB by 21.3% during the 2nd quarter. Moody National Bank Trust Division now owns 3,076 shares of the company’s stock worth $303,000 after purchasing an additional 540 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its holdings in ESAB by 24.5% during the 2nd quarter. Confluence Investment Management LLC now owns 14,709 shares of the company’s stock worth $1,451,000 after buying an additional 2,892 shares during the period. 91.13% of the stock is owned by institutional investors.

ESAB Stock Down 2.2%

NYSE ESAB opened at $89.77 on Friday. The business has a fifty day moving average price of $92.84 and a two-hundred day moving average price of $105.25. The stock has a market capitalization of $5.47 billion, a PE ratio of 26.56, a PEG ratio of 1.69 and a beta of 1.17. ESAB has a fifty-two week low of $82.18 and a fifty-two week high of $137.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.97 and a quick ratio of 2.26.

ESAB (NYSE:ESAB) last posted its 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 company had revenue of $745.60 million during the quarter, compared to the consensus estimate of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company posted $1.25 EPS. Equities analysts expect that ESAB will post 5.79 earnings per share for the current fiscal year.

ESAB Increases Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, July 2nd. This represents a $0.48 annualized dividend and a yield of 0.5%. This is a boost from ESAB’s previous quarterly dividend of $0.10. ESAB’s dividend payout ratio is 14.20%.

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.