Lincoln Electric (LECO) has been upgraded today from “neutral” to “buy” by the research analysts at Longbow. Longbow has set a price target of $92 dollars on LECO. LECO traded down during the intraday session and closed at $74.72.
Lincoln Electric is slated to release their next earnings report on July 26, 2011 and is estimated to post EPS of $1.10. Their last earnings report was released on April 26, 2011 and announced EPS of $1.00 with revenue totaling 599.2 million which was up 27.2 % year to year. LECO is currently trading between its 50 & 200-day moving averages and 2011 is currently an up year for the company.
Lincoln Electric is one of only a few worldwide broad-line manufacturers of welding and cutting products. Welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s product offering also includes regulators and torches used in oxy-fuel welding and cutting. The company has market capitalization of $3,075,000,000 and 42,153,000 shares outstanding. LECO has a 52-week high of $79.23 with the low being $48.26.
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