ESAB (NYSE:ESAB) Price Target Raised to $130.00 at Bank of America

ESAB (NYSE:ESAB) had its price target raised by Bank of America from $115.00 to $130.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 39.37% from the company’s current price.

ESAB has been the topic of several other reports. Stifel Nicolaus decreased their price objective on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. JPMorgan Chase & Co. reduced their price target on shares of ESAB from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Oppenheimer initiated coverage on shares of ESAB in a research note on Thursday, June 20th. They set an “outperform” rating and a $115.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, ESAB has a consensus rating of “Moderate Buy” and a consensus price target of $108.29.

ESAB Price Performance

ESAB traded down $2.71 on Monday, hitting $93.28. 179,369 shares of the company were exchanged, compared to its average volume of 256,797. ESAB has a fifty-two week low of $61.43 and a fifty-two week high of $114.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.65. The firm has a market capitalization of $5.64 billion, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 1.71 and a beta of 1.42. The business’s fifty day moving average is $96.88 and its 200 day moving average is $99.58.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Friday, August 2nd. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The business had revenue of $707.10 million for the quarter, compared to analysts’ expectations of $686.75 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. As a group, sell-side analysts anticipate that ESAB will post 4.9 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Whittier Trust Co. lifted its position in ESAB by 302.6% during the first quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after buying an additional 236 shares during the period. ORG Partners LLC purchased a new position in shares of ESAB during the 1st quarter worth about $35,000. Nomura Asset Management Co. Ltd. boosted its position in shares of ESAB by 57.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock worth $36,000 after acquiring an additional 154 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in ESAB in the fourth quarter valued at approximately $39,000. Finally, Hantz Financial Services Inc. purchased a new position in ESAB during the second quarter worth approximately $42,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

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.