Research Analysts’ Recent Ratings Updates for ESAB (ESAB)

ESAB (NYSE: ESAB) has recently received a number of price target changes and ratings updates:

• 11/8/2024 – ESAB had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $144.00 price target on the stock, up previously from $138.00.
• 10/30/2024 – ESAB had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $138.00 price target on the stock, up previously from $122.00.
• 10/30/2024 – ESAB had its price target raised by analysts at Loop Capital from $105.00 to $120.00. They now have a “hold” rating on the stock.
• 10/22/2024 – ESAB had its price target raised by analysts at Oppenheimer Holdings Inc. from $115.00 to $122.00. They now have an “outperform” rating on the stock.
• 9/30/2024 – ESAB had its price target raised by analysts at JPMorgan Chase & Co. from $120.00 to $128.00. They now have an “overweight” rating on the stock.

ESAB Price Performance

ESAB stock traded down $2.77 during mid-day trading on Tuesday, hitting $132.31. The company had a trading volume of 83,397 shares, compared to its average volume of 251,339. The company has a market capitalization of $8.00 billion, a price-to-earnings ratio of 30.99, a P/E/G ratio of 2.33 and a beta of 1.37. ESAB Co. has a 12-month low of $76.08 and a 12-month high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $109.24 and a 200 day moving average price of $103.10.

ESAB (NYSE:ESAB) last issued its earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. The business had revenue of $673.00 million for the quarter, compared to the consensus estimate of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 EPS. On average, research analysts anticipate that ESAB Co. will post 4.94 earnings per share for the current year.

ESAB Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. ESAB’s dividend payout ratio is currently 7.49%.

Insider Transactions at ESAB

In other news, Director Rhonda L. Jordan sold 4,254 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total value of $531,877.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the sale, the chief executive officer now directly owns 53,902 shares of the company’s stock, valued at $6,627,789.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rhonda L. Jordan sold 4,254 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The disclosure for this sale can be found here. Insiders sold 68,418 shares of company stock valued at $8,431,773 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On ESAB

Several hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its holdings in shares of ESAB by 37.7% in the 1st quarter. Russell Investments Group Ltd. now owns 116,097 shares of the company’s stock valued at $12,836,000 after buying an additional 31,780 shares during the period. Hudson Value Partners LLC raised its stake in ESAB by 0.6% during the first quarter. Hudson Value Partners LLC now owns 45,820 shares of the company’s stock worth $5,066,000 after buying an additional 280 shares during the last quarter. Jade Capital Advisors LLC acquired a new stake in ESAB in the first quarter worth $2,211,000. Acadian Asset Management LLC boosted its holdings in ESAB by 2,277.5% during the first quarter. Acadian Asset Management LLC now owns 93,770 shares of the company’s stock worth $10,359,000 after purchasing an additional 89,826 shares during the last quarter. Finally, Champlain Investment Partners LLC bought a new stake in ESAB in the first quarter worth about $33,811,000. 91.13% of the stock is owned by institutional investors and hedge funds.

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.