Lincoln Electric Holdings Inc. (LECO) Price Target Increased to $58.00 by Analysts at Barclays PLC
Lincoln Electric Holdings Inc. (NASDAQ:LECO) had its price objective boosted by investment analysts at Barclays PLC from $55.00 to $58.00 in a research report issued on Wednesday. The brokerage presently has an “equal weight” rating on the stock. Barclays PLC’s target price would suggest a potential downside of 6.15% from the company’s previous close.
LECO has been the topic of a number of other reports. Zacks Investment Research lowered Lincoln Electric Holdings from a “hold” rating to a “sell” rating in a research report on Monday, October 3rd. TheStreet lowered Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Wellington Shields lowered Lincoln Electric Holdings to a “hold” rating in a research report on Wednesday, August 24th. Deutsche Bank AG initiated coverage on Lincoln Electric Holdings in a research report on Tuesday, September 6th. They set a “hold” rating and a $70.00 price target on the stock. Finally, Wunderlich decreased their price target on Lincoln Electric Holdings from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Lincoln Electric Holdings has a consensus rating of “Hold” and an average target price of $66.50.
Lincoln Electric Holdings (NASDAQ:LECO) traded up 0.40% during mid-day trading on Wednesday, reaching $62.05. The company’s stock had a trading volume of 19,826 shares. The firm has a 50 day moving average price of $62.67 and a 200-day moving average price of $61.23. The company has a market capitalization of $4.17 billion, a PE ratio of 60.65 and a beta of 1.10. Lincoln Electric Holdings has a 1-year low of $45.54 and a 1-year high of $65.33.
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Lincoln Electric Holdings (NASDAQ:LECO) last released its quarterly earnings results on Monday, July 25th. The company reported $0.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.83. The business had revenue of $592.40 million for the quarter, compared to analyst estimates of $589.08 million. Lincoln Electric Holdings had a return on equity of 25.46% and a net margin of 3.11%. Lincoln Electric Holdings’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 EPS. On average, equities analysts predict that Lincoln Electric Holdings will post $3.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Wednesday, September 28th. Lincoln Electric Holdings’s dividend payout ratio (DPR) is currently 119.63%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in Lincoln Electric Holdings by 72.4% in the first quarter. JPMorgan Chase & Co. now owns 242,156 shares of the company’s stock worth $14,185,000 after buying an additional 101,706 shares during the period. Advisory Services Network LLC increased its position in Lincoln Electric Holdings by 3.6% in the second quarter. Advisory Services Network LLC now owns 5,780 shares of the company’s stock worth $341,000 after buying an additional 200 shares during the period. Commonwealth Equity Services Inc increased its position in Lincoln Electric Holdings by 2.2% in the second quarter. Commonwealth Equity Services Inc now owns 9,302 shares of the company’s stock worth $550,000 after buying an additional 203 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in Lincoln Electric Holdings during the first quarter worth $2,762,000. Finally, Nisa Investment Advisors LLC increased its position in Lincoln Electric Holdings by 8.9% in the second quarter. Nisa Investment Advisors LLC now owns 19,600 shares of the company’s stock worth $1,158,000 after buying an additional 1,600 shares during the period. 65.26% of the stock is currently owned by institutional investors.
About Lincoln Electric Holdings
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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