ESAB (NYSE:ESAB) Stock Rating Upgraded by Evercore ISI

ESAB (NYSE:ESAB) was upgraded by analysts at Evercore ISI from an “underperform” rating to an “inline” rating in a report released on Monday, MarketBeat Ratings reports. The firm presently has a $120.00 price target on the stock, down from their previous price target of $122.00. Evercore ISI’s price target points to a potential downside of 0.06% from the stock’s previous close.

A number of other analysts also recently issued reports on ESAB. Loop Capital boosted their price objective on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price objective on ESAB from $135.00 to $133.00 and set an “overweight” rating on the stock in a research note on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 price objective (up from $138.00) on shares of ESAB in a report on Friday, November 8th. Jefferies Financial Group began coverage on ESAB in a report on Thursday, December 12th. They set a “buy” rating and a $160.00 target price on the stock. Finally, Stifel Nicolaus dropped their price target on ESAB from $131.00 to $125.00 and set a “hold” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.14.

ESAB Stock Down 0.0 %

Shares of ESAB opened at $120.07 on Monday. The firm’s 50-day simple moving average is $122.57 and its 200 day simple moving average is $115.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. The firm has a market cap of $7.26 billion, a P/E ratio of 27.79, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. ESAB has a 52 week low of $88.54 and a 52 week high of $135.97.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.13. The business had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. On average, analysts forecast that ESAB will post 5.16 earnings per share for the current year.

Institutional Investors Weigh In On ESAB

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in ESAB by 3.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,538,081 shares of the company’s stock worth $904,118,000 after purchasing an additional 225,345 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of ESAB by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,546,104 shares of the company’s stock valued at $665,200,000 after acquiring an additional 20,741 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of ESAB by 15.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,202,568 shares of the company’s stock valued at $264,176,000 after acquiring an additional 302,453 shares in the last quarter. FMR LLC grew its position in ESAB by 6.2% during the 3rd quarter. FMR LLC now owns 2,196,522 shares of the company’s stock worth $233,512,000 after acquiring an additional 127,714 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in ESAB by 17.9% in the 4th quarter. Invesco Ltd. now owns 2,097,624 shares of the company’s stock worth $251,589,000 after purchasing an additional 318,018 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

About ESAB

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.