ESAB (NYSE:ESAB) Earns Outperform Rating from Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of ESAB (NYSE:ESAB) in a research report released on Wednesday, Benzinga reports. The brokerage currently has a $138.00 price target on the stock, up from their previous price target of $122.00.

ESAB has been the topic of a number of other reports. Evercore ISI lowered their price objective on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Stifel Nicolaus lowered their price target on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Bank of America increased their price objective on shares of ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. lifted their target price on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.00.

ESAB Price Performance

Shares of NYSE ESAB opened at $125.54 on Wednesday. The company has a fifty day moving average price of $104.72 and a 200 day moving average price of $101.75. The firm has a market cap of $7.59 billion, a PE ratio of 29.40, a PEG ratio of 1.93 and a beta of 1.42. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. ESAB has a 1-year low of $62.57 and a 1-year high of $127.33.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.13. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The company had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. During the same period in the prior year, the firm earned $1.08 earnings per share. ESAB’s revenue for the quarter was down 1.2% compared to the same quarter last year. Research analysts predict that ESAB will post 4.83 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Friday, September 27th. ESAB’s dividend payout ratio (DPR) is presently 7.49%.

Institutional Investors Weigh In On ESAB

A number of institutional investors and hedge funds have recently modified their holdings of ESAB. ORG Partners LLC acquired a new position in ESAB during the first quarter worth approximately $35,000. Whittier Trust Co. boosted its stake in shares of ESAB by 302.6% during the 1st quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after acquiring an additional 236 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of ESAB during the 2nd quarter worth approximately $42,000. GAMMA Investing LLC raised its stake in ESAB by 55.9% in the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the period. Finally, Blue Trust Inc. lifted its holdings in ESAB by 629.8% during the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after purchasing an additional 529 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.