Oppenheimer Issues Pessimistic Forecast for ESAB (NYSE:ESAB) Stock Price

ESAB (NYSE:ESAB) had its price objective cut by investment analysts at Oppenheimer from $140.00 to $135.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 61.04% from the company’s previous close.

A number of other research analysts have also recently commented on the stock. Roth Capital increased their price target on shares of ESAB from $142.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. decreased their price target on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Jefferies Financial Group restated a “buy” rating and issued a $130.00 price objective (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Weiss Ratings cut shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Finally, Stifel Nicolaus reduced their target price on shares of ESAB from $141.00 to $137.00 and set a “buy” rating on the stock in a report on Monday. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $138.38.

ESAB Trading Down 2.5%

Shares of ESAB stock opened at $83.83 on Tuesday. The business has a 50-day moving average price of $92.26 and a two-hundred day moving average price of $104.61. ESAB has a 12-month low of $82.18 and a 12-month high of $137.42. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91. The firm has a market cap of $5.10 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $745.60 million for the quarter, compared to the consensus estimate of $706.74 million. ESAB had a net margin of 7.11% and a return on equity of 15.04%. ESAB’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 earnings per share. Equities analysts anticipate that ESAB will post 5.72 EPS for the current fiscal year.

Institutional Trading of ESAB

Several hedge funds and other institutional investors have recently bought and sold shares of ESAB. Hudson Value Partners LLC boosted its stake in shares of ESAB by 19.9% during the second quarter. Hudson Value Partners LLC now owns 65,729 shares of the company’s stock valued at $6,483,000 after purchasing an additional 10,915 shares during the period. Defender Capital LLC. increased its stake in shares of ESAB by 23.2% in the second quarter. Defender Capital LLC. now owns 36,564 shares of the company’s stock worth $3,606,000 after buying an additional 6,877 shares during the period. Dynamic Advisor Solutions LLC increased its stake in shares of ESAB by 3.0% in the second quarter. Dynamic Advisor Solutions LLC now owns 11,137 shares of the company’s stock worth $1,098,000 after buying an additional 328 shares during the period. Moody National Bank Trust Division raised its holdings in ESAB by 21.3% during the 2nd quarter. Moody National Bank Trust Division now owns 3,076 shares of the company’s stock valued at $303,000 after buying an additional 540 shares during the last quarter. Finally, Confluence Investment Management LLC raised its holdings in ESAB by 24.5% during the 2nd quarter. Confluence Investment Management LLC now owns 14,709 shares of the company’s stock valued at $1,451,000 after buying an additional 2,892 shares during the last quarter. Institutional investors 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.