ESAB (NYSE:ESAB) Rating Lowered to Hold at Wall Street Zen

ESAB (NYSE:ESAB) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research firms have also recently weighed in on ESAB. JPMorgan Chase & Co. increased their price objective on shares of ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Weiss Ratings lowered shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Oppenheimer upped their price target on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Stifel Nicolaus increased their price target on ESAB from $144.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, Roth Mkm reissued a “buy” rating and issued a $146.00 price objective (down from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, ESAB presently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

ESAB Trading Down 4.2%

Shares of ESAB stock opened at $94.17 on Friday. The stock has a 50-day moving average of $119.38 and a 200-day moving average of $115.82. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.56. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.74 and a beta of 1.23. ESAB has a 1-year low of $93.69 and a 1-year high of $137.42.

ESAB (NYSE:ESAB) last announced its earnings results on Friday, February 20th. The company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The business had revenue of $687.00 million for the quarter, compared to analysts’ expectations of $687.80 million. During the same period in the prior year, the business posted $1.28 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that ESAB will post 5.16 earnings per share for the current year.

Insider Buying and Selling

In other ESAB news, CEO Shyam Kambeyanda sold 59,404 shares of ESAB stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total value of $7,353,621.16. Following the completion of the sale, the chief executive officer directly owned 99,864 shares of the company’s stock, valued at approximately $12,362,164.56. The trade was a 37.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.30% of the company’s stock.

Institutional Trading of ESAB

Several large investors have recently made changes to their positions in ESAB. FNY Investment Advisers LLC acquired a new position in ESAB during the 3rd quarter worth approximately $30,000. Los Angeles Capital Management LLC bought a new position in ESAB in the fourth quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. grew its stake in ESAB by 109.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after acquiring an additional 174 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of ESAB by 259.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of ESAB by 3,023.1% during the fourth quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after acquiring an additional 393 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

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.