Lincoln Electric (NASDAQ:LECO) Rating Lowered to Hold at Wall Street Zen

Lincoln Electric (NASDAQ:LECO) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Monday.

Several other analysts have also recently issued reports on LECO. Jefferies Financial Group reissued a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Morgan Stanley upped their target price on shares of Lincoln Electric from $250.00 to $253.00 and gave the stock an “underweight” rating in a research note on Friday. Barclays increased their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $299.38.

Lincoln Electric Stock Performance

Shares of NASDAQ LECO opened at $252.74 on Monday. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $13.85 billion, a PE ratio of 26.08, a PEG ratio of 1.55 and a beta of 1.20. Lincoln Electric has a twelve month low of $216.22 and a twelve month high of $310.00. The stock has a fifty day simple moving average of $261.61 and a 200-day simple moving average of $263.25.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.Lincoln Electric’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. On average, equities analysts forecast that Lincoln Electric will post 10.84 earnings per share for the current year.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the transaction, the executive vice president owned 9,319 shares in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lincoln Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dagco Inc. purchased a new stake in shares of Lincoln Electric during the 2nd quarter worth $531,000. Hennion & Walsh Asset Management Inc. increased its holdings in Lincoln Electric by 10.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 5,852 shares of the industrial products company’s stock valued at $1,554,000 after buying an additional 541 shares during the last quarter. Threadgill Financial LLC raised its stake in Lincoln Electric by 519.1% in the second quarter. Threadgill Financial LLC now owns 24,646 shares of the industrial products company’s stock valued at $6,544,000 after buying an additional 20,665 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Lincoln Electric by 11.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,940 shares of the industrial products company’s stock worth $515,000 after buying an additional 200 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in Lincoln Electric by 20.1% during the second quarter. Avior Wealth Management LLC now owns 2,058 shares of the industrial products company’s stock worth $546,000 after purchasing an additional 344 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.