Lincoln Electric Holdings Given “Neutral” Rating at Zacks (LECO)
Lincoln Electric Holdings (NASDAQ:LECO)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Wednesday, American Banking News.com reports. They currently have a $77.00 price target on the stock. Zacks‘ target price indicates a potential upside of 4.76% from the stock’s previous close.
Zacks‘ analyst wrote, “We are reiterating our Neutral recommendation on Lincoln Electric with a target price of $77. In the fourth quarter of 2013, the company reported a 38% year-on-year improvement in adjusted earnings to $1.09 per share. Lincoln Electric will benefit from investment in business, which includes active acquisition program and development in manufacturing platforms. In addition, continues focus on innovative solutions and margin improvements will also drive growth. However, the company is cautious about any substantial improvement in the global mining sector, going forward. Moreover, the slow pace of economic stabilization in Europe and volatility in raw material prices remain headwinds in the near term.”
A number of other firms have also recently commented on LECO. Analysts at Ned Davis Research downgraded shares of Lincoln Electric Holdings from a “buy” rating to a “neutral” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $74.25.
Lincoln Electric Holdings (NASDAQ:LECO) traded down 0.04% during mid-day trading on Wednesday, hitting $73.47. 164,775 shares of the company’s stock traded hands. Lincoln Electric Holdings has a 52 week low of $49.94 and a 52 week high of $74.95. The stock has a 50-day moving average of $70.07 and a 200-day moving average of $68.39. The company has a market cap of $5.961 billion and a P/E ratio of 20.76.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its earnings results on Friday, February 14th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.86 by $0.23. The company had revenue of $714.80 million for the quarter, compared to the consensus estimate of $693.26 million. During the same quarter in the prior year, the company posted $0.79 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts expect that Lincoln Electric Holdings will post $3.92 EPS for the current fiscal year.
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. Welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.
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