Analysts Set ESAB Co. (NYSE:ESAB) Target Price at $108.57

Shares of ESAB Co. (NYSE:ESAB) have received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $108.57.

ESAB has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on ESAB from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Evercore ISI reduced their target price on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Oppenheimer initiated coverage on ESAB in a research report on Thursday, June 20th. They set an “outperform” rating and a $115.00 target price on the stock. Bank of America upped their target price on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Stifel Nicolaus reduced their target price on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th.

ESAB Trading Up 1.2 %

ESAB opened at $98.86 on Wednesday. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.68 and a beta of 1.42. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. ESAB has a 12 month low of $61.43 and a 12 month high of $114.77. The stock has a fifty day moving average price of $98.28 and a 200-day moving average price of $101.29.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Friday, August 2nd. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.27 by $0.05. The firm had revenue of $707.10 million during the quarter, compared to analyst estimates of $686.75 million. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS. As a group, equities research analysts anticipate that ESAB will post 4.84 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, September 27th. ESAB’s payout ratio is 8.38%.

Institutional Trading of ESAB

Several institutional investors and hedge funds have recently bought and sold shares of ESAB. Charles Schwab Investment Management Inc. lifted its stake in ESAB by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 499,597 shares of the company’s stock valued at $43,275,000 after acquiring an additional 9,658 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in ESAB during the 4th quarter valued at approximately $229,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of ESAB by 53.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,406 shares of the company’s stock valued at $468,000 after purchasing an additional 1,894 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in shares of ESAB during the 4th quarter valued at approximately $244,000. Finally, Brown Advisory Inc. purchased a new position in shares of ESAB during the 4th quarter valued at approximately $1,011,000. 91.13% of the stock is currently owned by institutional investors and hedge funds.

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.