Jefferies Financial Group Reiterates “Buy” Rating for ESAB (NYSE:ESAB)

ESAB (NYSE:ESAB)‘s stock had its “buy” rating restated by stock analysts at Jefferies Financial Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $130.00 target price on the stock, down from their previous target price of $150.00. Jefferies Financial Group’s price objective points to a potential upside of 28.70% from the company’s previous close.

ESAB has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on shares of ESAB from $130.00 to $153.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Stifel Nicolaus upped their target price on ESAB from $144.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Roth Mkm reaffirmed a “buy” rating and set a $146.00 price target (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. Weiss Ratings cut ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Finally, Oppenheimer boosted their price objective on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, ESAB has a consensus rating of “Moderate Buy” and an average target price of $143.56.

ESAB Price Performance

Shares of NYSE ESAB opened at $101.01 on Tuesday. The stock has a market cap of $6.15 billion, a P/E ratio of 27.30, a P/E/G ratio of 1.78 and a beta of 1.36. The firm’s 50-day simple moving average is $115.36 and its 200 day simple moving average is $114.73. ESAB has a fifty-two week low of $89.41 and a fifty-two week high of $137.42. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.56.

ESAB (NYSE:ESAB) last announced its earnings results on Friday, February 20th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.01. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The firm had revenue of $687.00 million during the quarter, compared to analyst estimates of $687.80 million. During the same quarter in the prior year, the firm posted $1.28 EPS. ESAB’s revenue was up 7.5% compared to the same quarter last year. Equities analysts expect that ESAB will post 5.16 EPS for the current year.

Insider Buying and Selling at ESAB

In related news, CEO Shyam Kambeyanda sold 59,404 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $123.79, for a total value of $7,353,621.16. Following the completion of the transaction, the chief executive officer owned 99,864 shares in the company, valued at $12,362,164.56. This trade represents a 37.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.30% of the stock is owned by company insiders.

Institutional Trading of ESAB

Institutional investors and hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans boosted its holdings in shares of ESAB by 0.7% in the second quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock worth $1,617,000 after buying an additional 95 shares during the period. Xponance Inc. increased its position in shares of ESAB by 1.6% in the third quarter. Xponance Inc. now owns 6,488 shares of the company’s stock worth $725,000 after acquiring an additional 102 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of ESAB by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock valued at $2,191,000 after acquiring an additional 107 shares during the period. Coldstream Capital Management Inc. raised its holdings in shares of ESAB by 5.9% during the third quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock valued at $300,000 after acquiring an additional 149 shares during the period. Finally, Lafayette Investments Inc. lifted its position in shares of ESAB by 0.5% in the 4th quarter. Lafayette Investments Inc. now owns 34,266 shares of the company’s stock valued at $3,828,000 after acquiring an additional 161 shares in the last quarter. 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.