Wall Street Zen Downgrades ESAB (NYSE:ESAB) to Hold

ESAB (NYSE:ESAB) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus boosted their price objective on shares of ESAB from $141.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. UBS Group lifted their price target on shares of ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. upped their price objective on shares of ESAB from $138.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ESAB in a report on Monday, December 22nd. Finally, Roth Capital began coverage on ESAB in a research report on Friday, September 5th. They set a “buy” rating and a $150.00 price target on the stock. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.50.

ESAB Stock Down 0.1%

Shares of ESAB stock opened at $114.10 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.62. ESAB has a 12 month low of $100.17 and a 12 month high of $135.84. The business has a fifty day simple moving average of $113.61 and a 200 day simple moving average of $117.15. The stock has a market cap of $6.93 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24.

ESAB (NYSE:ESAB) last released its earnings results on Wednesday, October 29th. The company reported $1.32 earnings per share 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 firm had revenue of $727.85 million for the quarter, compared to analyst estimates of $663.57 million. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. Research analysts predict that ESAB will post 5.16 EPS for the current year.

Hedge Funds Weigh In On ESAB

Several hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new stake in shares of ESAB in the third quarter worth $30,000. Northwestern Mutual Wealth Management Co. lifted its position in ESAB by 109.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after buying an additional 174 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of ESAB during the 2nd quarter worth about $59,000. AlphaQuest LLC bought a new position in shares of ESAB in the 3rd quarter valued at about $58,000. Finally, Farther Finance Advisors LLC increased its position in shares of ESAB by 60.4% in the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $75,000 after acquiring an additional 252 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

About ESAB

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.