Lincoln Electric Holdings Inc. (LECO) Price Target Raised to $58.00 at Barclays PLC
Lincoln Electric Holdings Inc. (NASDAQ:LECO) had its price target raised by equities researchers at Barclays PLC from $55.00 to $58.00 in a research report issued on Wednesday. The firm presently has an “equal weight” rating on the stock. Barclays PLC’s price target points to a potential downside of 7.04% from the stock’s current price.
A number of other research analysts also recently weighed in on LECO. Zacks Investment Research upgraded Lincoln Electric Holdings from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Wellington Shields downgraded Lincoln Electric Holdings to a “hold” rating in a report on Wednesday, August 24th. TheStreet upgraded Lincoln Electric Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Wunderlich lowered their price target on Lincoln Electric Holdings from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. Finally, Deutsche Bank AG assumed coverage on Lincoln Electric Holdings in a report on Tuesday, September 6th. They set a “hold” rating and a $70.00 price target on the stock. One equities research 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. The company presently has a consensus rating of “Hold” and a consensus target price of $66.50.
Shares of Lincoln Electric Holdings (NASDAQ:LECO) traded up 0.95% during midday trading on Wednesday, hitting $62.39. The company had a trading volume of 192,607 shares. The company’s 50 day moving average is $62.60 and its 200 day moving average is $61.24. Lincoln Electric Holdings has a one year low of $45.54 and a one year high of $65.33. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 60.99 and a beta of 1.10.
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Lincoln Electric Holdings (NASDAQ:LECO) last announced its earnings results on Monday, July 25th. The company reported $0.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.83. The company 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 earnings per share. Equities analysts forecast that Lincoln Electric Holdings will post $3.23 earnings per share 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 dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.28 annualized dividend and a dividend yield of 2.05%. Lincoln Electric Holdings’s dividend payout ratio (DPR) is presently 119.63%.
Several hedge funds have recently added to or reduced their stakes in LECO. Johnson Financial Group Inc. increased its stake in Lincoln Electric Holdings by 1.1% in the second quarter. Johnson Financial Group Inc. now owns 2,250 shares of the company’s stock valued at $133,000 after buying an additional 25 shares during the period. Taylor Cottrill Erickson & Associates Inc. bought a new stake in Lincoln Electric Holdings during the second quarter valued at about $208,000. Quadrature Capital Ltd bought a new stake in Lincoln Electric Holdings during the first quarter valued at about $217,000. LS Investment Advisors LLC increased its stake in Lincoln Electric Holdings by 68.6% in the second quarter. LS Investment Advisors LLC now owns 3,877 shares of the company’s stock valued at $229,000 after buying an additional 1,578 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Lincoln Electric Holdings by 195.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,992 shares of the company’s stock valued at $236,000 after buying an additional 2,639 shares during the period. Institutional investors own 65.26% of the company’s stock.
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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