Lincoln Electric (NASDAQ:LECO) was upgraded by KeyCorp to an “overweight” rating in a research report issued on Monday, The Fly reports.
Several other research analysts have also commented on LECO. Barclays started coverage on Lincoln Electric in a report on Tuesday, December 12th. They set an “equal weight” rating and a $90.00 price objective for the company. Oppenheimer reissued a “hold” rating on shares of Lincoln Electric in a report on Tuesday, December 12th. UBS Group raised Lincoln Electric from a “market perform” rating to an “outperform” rating in a report on Thursday, January 4th. Zacks Investment Research raised Lincoln Electric from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a report on Monday, January 8th. Finally, Stifel Nicolaus raised Lincoln Electric from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $97.00 to $116.00 in a report on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $105.20.
Shares of Lincoln Electric (NASDAQ:LECO) traded down $0.06 during midday trading on Monday, hitting $93.07. The stock had a trading volume of 369,026 shares, compared to its average volume of 482,536. Lincoln Electric has a 52 week low of $81.85 and a 52 week high of $101.34. The company has a quick ratio of 1.94, a current ratio of 2.60 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $6,110.00, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 1.72 and a beta of 1.11.
A number of large investors have recently added to or reduced their stakes in LECO. Amundi Pioneer Asset Management Inc. bought a new stake in Lincoln Electric in the 4th quarter worth approximately $56,904,000. Prudential Financial Inc. lifted its position in Lincoln Electric by 584.5% in the third quarter. Prudential Financial Inc. now owns 691,029 shares of the industrial products company’s stock valued at $63,353,000 after purchasing an additional 590,070 shares during the last quarter. KAMES CAPITAL plc bought a new stake in Lincoln Electric in the fourth quarter valued at approximately $23,770,000. BTIM Corp. lifted its position in Lincoln Electric by 29.3% in the fourth quarter. BTIM Corp. now owns 510,638 shares of the industrial products company’s stock valued at $46,765,000 after purchasing an additional 115,841 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Lincoln Electric by 89.1% in the third quarter. Wells Fargo & Company MN now owns 225,214 shares of the industrial products company’s stock valued at $20,648,000 after purchasing an additional 106,110 shares during the last quarter. Institutional investors own 66.94% of the company’s stock.
About Lincoln Electric
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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