Roth Capital Boosts ESAB (NYSE:ESAB) Price Target to $151.00

ESAB (NYSE:ESAB) had its target price hoisted by Roth Capital from $142.00 to $151.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Capital’s price target points to a potential upside of 61.35% from the company’s current price.

A number of other analysts have also commented on ESAB. JPMorgan Chase & Co. reduced their price objective on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Wall Street Zen lowered ESAB from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings cut ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. DA Davidson began coverage on ESAB in a report on Monday, June 15th. They set a “buy” rating and a $130.00 price target on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $140.00 target price on shares of ESAB in a research report on Tuesday, April 14th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, ESAB has an average rating of “Moderate Buy” and a consensus target price of $139.50.

ESAB Stock Performance

ESAB stock opened at $93.59 on Tuesday. The company has a market cap of $5.70 billion, a PE ratio of 27.82, a P/E/G ratio of 1.70 and a beta of 1.17. ESAB has a 12 month low of $82.18 and a 12 month high of $137.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.97 and a quick ratio of 2.26. The company has a fifty day moving average price of $94.86 and a two-hundred day moving average price of $106.78.

ESAB (NYSE:ESAB) last issued its earnings results on Thursday, May 7th. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $745.60 million for the quarter, compared to the consensus estimate of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 earnings per share. Research analysts expect that ESAB will post 5.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its holdings in ESAB by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company’s stock valued at $894,457,000 after buying an additional 45,841 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of ESAB by 11.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company’s stock valued at $653,864,000 after buying an additional 613,327 shares in the last quarter. Durable Capital Partners LP lifted its holdings in shares of ESAB by 40.5% during the 3rd quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock worth $217,430,000 after acquiring an additional 560,678 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ESAB by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,318,269 shares of the company’s stock worth $147,300,000 after acquiring an additional 16,466 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of ESAB by 16.3% during the 1st quarter. Bessemer Group Inc. now owns 1,225,702 shares of the company’s stock valued at $118,475,000 after acquiring an additional 171,926 shares in the last quarter. 91.13% of the stock is owned by 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.