DA Davidson Lowers ESAB (NYSE:ESAB) Price Target to $142.00

ESAB (NYSE:ESAB) had its target price reduced by analysts at DA Davidson from $146.00 to $142.00 in a research note issued on Thursday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 29.44% from the company’s current price.

A number of other brokerages have also commented on ESAB. Roth Mkm set a $142.00 price target on ESAB in a research note on Thursday. Stifel Nicolaus dropped their price target on ESAB from $158.00 to $138.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Jefferies Financial Group reissued a “buy” rating and set a $130.00 price target (down from $150.00) on shares of ESAB in a research note on Tuesday, March 31st. JPMorgan Chase & Co. dropped their price target on ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Finally, Oppenheimer reissued an “outperform” rating and set a $140.00 price target on shares of ESAB in a research note on Tuesday. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.40.

ESAB Stock Performance

NYSE:ESAB opened at $109.70 on Thursday. The stock has a 50-day simple moving average of $110.34 and a two-hundred day simple moving average of $113.98. ESAB has a 52-week low of $89.41 and a 52-week high of $137.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.17 and a current ratio of 1.90. The firm has a market capitalization of $6.68 billion, a PE ratio of 29.65, a P/E/G ratio of 1.84 and a beta of 1.36.

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

Insider Buying and Selling at ESAB

In other news, CEO Shyam Kambeyanda sold 59,404 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 99,864 shares in the company, valued at approximately $12,362,164.56. This represents a 37.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in shares of ESAB in the 3rd quarter valued at $30,000. Los Angeles Capital Management LLC acquired a new stake in shares of ESAB in the 4th quarter worth $33,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after purchasing an additional 174 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of ESAB by 259.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of ESAB by 3,023.1% in the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after purchasing an additional 393 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other 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.