ESAB (NYSE:ESAB) Upgraded by Wall Street Zen to Buy Rating

ESAB (NYSE:ESAB) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other research analysts have also recently issued reports on the company. Stifel Nicolaus lifted their target price on ESAB from $141.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday. Roth Capital started coverage on shares of ESAB in a report on Friday, September 5th. They set a “buy” rating and a $150.00 price target on the stock. Weiss Ratings downgraded shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Loop Capital upgraded shares of ESAB from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $140.00 in a research report on Friday, August 22nd. Finally, UBS Group upped their price target on shares of ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.50.

ESAB Stock Performance

Shares of ESAB stock opened at $113.75 on Friday. The company has a 50 day moving average of $114.19 and a 200-day moving average of $117.60. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.62. ESAB has a 1-year low of $100.17 and a 1-year high of $135.84. The company has a market cap of $6.91 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. ESAB had a return on equity of 15.93% and a net margin of 8.70%.The company had revenue of $727.85 million for the quarter, compared to analyst estimates of $663.57 million. During the same quarter last year, the company posted $1.25 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. As a group, equities research analysts forecast that ESAB will post 5.16 earnings per share for the current fiscal year.

Institutional Trading of ESAB

A number of institutional investors and hedge funds have recently bought and sold shares of ESAB. FNY Investment Advisers LLC acquired a new position in ESAB during the 3rd quarter worth about $30,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of ESAB by 109.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after acquiring an additional 174 shares during the period. AlphaQuest LLC acquired a new position in shares of ESAB in the third quarter worth approximately $58,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in ESAB in the second quarter valued at approximately $59,000. Finally, Farther Finance Advisors LLC increased its position in ESAB by 60.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $75,000 after purchasing an additional 252 shares during the period. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Company Profile

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.