ESAB Corporation (NYSE:ESAB) Receives Average Recommendation of “Moderate Buy” from Analysts

ESAB Corporation (NYSE:ESAB) has been assigned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $140.6250.

Several brokerages have recently weighed in on ESAB. Stifel Nicolaus lifted their price objective on ESAB from $143.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. decreased their price target on shares of ESAB from $138.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. Roth Mkm reissued a “buy” rating and issued a $146.00 price target (down previously from $150.00) on shares of ESAB in a report on Tuesday, February 3rd. Oppenheimer raised their price objective on shares of ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Finally, Wall Street Zen lowered shares of ESAB from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th.

ESAB Stock Down 1.0%

ESAB stock opened at $133.42 on Wednesday. ESAB has a twelve month low of $100.17 and a twelve month high of $137.42. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.62. The company has a market cap of $8.10 billion, a PE ratio of 33.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The business’s 50-day simple moving average is $119.95 and its 200 day simple moving average is $116.14.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Wednesday, December 31st. ESAB’s dividend payout ratio is currently 10.08%.

Institutional Trading of ESAB

Several institutional investors have recently bought and sold shares of ESAB. Royal Bank of Canada raised its stake in ESAB by 29.4% during the first quarter. Royal Bank of Canada now owns 51,867 shares of the company’s stock worth $6,042,000 after acquiring an additional 11,772 shares in the last quarter. Millennium Management LLC bought a new stake in shares of ESAB in the 1st quarter worth about $10,616,000. Goldman Sachs Group Inc. increased its position in shares of ESAB by 25.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 458,339 shares of the company’s stock worth $53,396,000 after purchasing an additional 94,335 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in ESAB by 0.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 21,158 shares of the company’s stock valued at $2,551,000 after purchasing an additional 118 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in ESAB in the second quarter valued at about $540,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

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.