ESAB Co. (NYSE:ESAB) Receives Average Rating of “Moderate Buy” from Analysts

ESAB Co. (NYSE:ESAB) has been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $93.75.

Several research firms recently issued reports on ESAB. Evercore ISI increased their target price on ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. raised ESAB from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $111.00 to $125.00 in a research note on Monday, March 18th. Finally, Stifel Nicolaus increased their price target on ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 1st.

ESAB Price Performance

Shares of ESAB stock opened at $109.39 on Thursday. The stock’s fifty day moving average is $105.99 and its 200 day moving average is $90.97. ESAB has a one year low of $57.53 and a one year high of $114.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.65. The stock has a market cap of $6.61 billion, a P/E ratio of 28.64, a P/E/G ratio of 2.10 and a beta of 1.55.

ESAB (NYSE:ESAB) last released its earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.09. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The company had revenue of $690.00 million during the quarter, compared to analyst estimates of $653.93 million. During the same period in the prior year, the firm posted $1.04 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Sell-side analysts anticipate that ESAB will post 4.91 earnings per share for the current year.

ESAB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Wednesday, March 27th. ESAB’s payout ratio is presently 6.28%.

Insider Buying and Selling at ESAB

In other news, Director Christopher M. Hix sold 7,465 shares of ESAB stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the completion of the sale, the director now owns 33,863 shares of the company’s stock, valued at $3,361,918.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Christopher M. Hix sold 7,465 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $99.28, for a total transaction of $741,125.20. Following the transaction, the director now owns 33,863 shares in the company, valued at $3,361,918.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Didier P. Teirlinck sold 2,512 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $99.00, for a total transaction of $248,688.00. Following the completion of the sale, the director now directly owns 33,863 shares of the company’s stock, valued at $3,352,437. The disclosure for this sale can be found here. Insiders sold a total of 10,833 shares of company stock valued at $1,074,985 in the last three months. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On ESAB

Large investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC purchased a new stake in shares of ESAB during the 3rd quarter worth $295,000. Xponance Inc. grew its position in shares of ESAB by 4.6% in the 3rd quarter. Xponance Inc. now owns 6,785 shares of the company’s stock worth $476,000 after buying an additional 297 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of ESAB by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 519,566 shares of the company’s stock worth $36,484,000 after acquiring an additional 4,838 shares in the last quarter. New York State Teachers Retirement System boosted its stake in ESAB by 2.1% in the third quarter. New York State Teachers Retirement System now owns 18,966 shares of the company’s stock valued at $1,332,000 after acquiring an additional 387 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ESAB by 20.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,633 shares of the company’s stock worth $817,000 after purchasing an additional 1,999 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

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.