ESAB Co. (NYSE:ESAB) Given Average Recommendation of “Hold” by Brokerages

Shares of ESAB Co. (NYSE:ESAB) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $124.14.

Several equities research analysts recently weighed in on ESAB shares. JPMorgan Chase & Co. upped their price objective on shares of ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Loop Capital boosted their target price on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Bank of America boosted their target price on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Stifel Nicolaus downgraded ESAB from a “buy” rating to a “hold” rating and lowered their target price for the stock from $138.00 to $130.00 in a research note on Monday, November 18th. Finally, Evercore ISI downgraded ESAB from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $102.00 to $122.00 in a research note on Wednesday, November 13th.

ESAB Trading Up 0.6 %

ESAB opened at $129.08 on Monday. ESAB has a twelve month low of $76.08 and a twelve month high of $135.97. The company has a 50-day simple moving average of $116.95 and a 200 day simple moving average of $105.06. 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 stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 30.23, a P/E/G ratio of 2.24 and a beta of 1.37.

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 net margin of 9.47% and a return on equity of 17.27%. The business had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. During the same quarter in the prior year, the business posted $1.08 earnings per share. ESAB’s revenue was down 1.2% compared to the same quarter last year. Analysts predict that ESAB will post 4.94 EPS 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 paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. The ex-dividend date was Friday, September 27th. ESAB’s dividend payout ratio is currently 7.49%.

Insider Activity

In other news, Director Rhonda L. Jordan sold 4,254 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 Securities & Exchange Commission, which is available at this link. Also, CFO Kevin J. Johnson sold 5,044 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total value of $630,500.00. Following the completion of the sale, the chief financial officer now owns 11,433 shares in the company, valued at $1,429,125. The trade was a 30.61 % decrease in their ownership of the stock. 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 quarter. 7.00% of the stock is owned by company insiders.

Institutional Trading of ESAB

Several institutional investors have recently added to or reduced their stakes in ESAB. Hantz Financial Services Inc. bought a new stake in ESAB in the second quarter valued at approximately $42,000. GAMMA Investing LLC boosted its holdings in ESAB by 55.9% in the third 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 last quarter. Blue Trust Inc. boosted its holdings in shares of ESAB by 629.8% during the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after buying an additional 529 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of ESAB by 12,140.0% during the 3rd quarter. Quest Partners LLC now owns 612 shares of the company’s stock worth $65,000 after buying an additional 607 shares in the last quarter. Finally, Millburn Ridgefield Corp bought a new position in shares of ESAB during the 3rd quarter worth approximately $77,000. 91.13% of the stock is currently owned by institutional investors.

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.