ESAB Co. (NYSE:ESAB) Receives $133.43 Consensus PT from Analysts

Shares of ESAB Co. (NYSE:ESAB) have been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $133.43.

Several brokerages recently issued reports on ESAB. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $102.00 to $122.00 in a research note on Wednesday, November 13th. Stifel Nicolaus lowered shares of ESAB from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $138.00 to $130.00 in a research note on Monday, November 18th. Jefferies Financial Group began coverage on shares of ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Loop Capital boosted their price objective on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th.

Insider Buying and Selling at ESAB

In other news, CEO Shyam Kambeyanda sold 59,120 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total value 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 represents a 52.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction dated Wednesday, October 30th. The shares were 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. In the last quarter, insiders have sold 68,418 shares of company stock worth $8,431,773. 7.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ESAB

Several hedge funds have recently modified their holdings of ESAB. ORG Wealth Partners LLC purchased a new stake in shares of ESAB in the fourth quarter valued at approximately $34,000. Trust Co. of Vermont raised its position in shares of ESAB by 871.0% during the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after purchasing an additional 270 shares during the last quarter. GAMMA Investing LLC lifted 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 buying an additional 147 shares in the last quarter. Blue Trust Inc. boosted its holdings in ESAB by 629.8% in the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after buying an additional 529 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in shares of ESAB by 12,140.0% during the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after acquiring an additional 607 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

ESAB Trading Down 0.1 %

ESAB opened at $123.99 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92. The stock’s 50 day moving average price is $124.30 and its 200-day moving average price is $111.37. ESAB has a one year low of $83.21 and a one year high of $135.97. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 1.84 and a beta of 1.37.

ESAB (NYSE:ESAB) last issued its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13. The firm had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 earnings per share. On average, equities analysts forecast that ESAB will post 4.93 EPS for the current year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. ESAB’s payout ratio is 7.49%.

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.