ESAB Corporation (NYSE:ESAB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of ESAB Corporation (NYSE:ESAB) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $145.25.

Several research analysts have recently issued reports on ESAB shares. Roth Mkm reaffirmed a “buy” rating and issued a $146.00 target price (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. Stifel Nicolaus raised their price objective on shares of ESAB from $144.00 to $158.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer lifted their target price on shares of ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. increased their price target on ESAB from $130.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wall Street Zen lowered ESAB from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th.

ESAB Stock Up 2.1%

NYSE ESAB opened at $125.22 on Wednesday. The stock has a market capitalization of $7.60 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 2.27 and a beta of 1.24. ESAB has a 52 week low of $100.17 and a 52 week high of $137.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.24 and a current ratio of 1.90. The stock has a fifty day moving average of $121.24 and a 200-day moving average of $116.42.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Friday, February 20th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.01. The business had revenue of $720.99 million for the quarter, compared to analysts’ expectations of $687.80 million. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.28 earnings per share. On average, equities research analysts forecast that ESAB will post 5.16 EPS for the current year.

ESAB Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Wednesday, December 31st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, December 31st. ESAB’s dividend payout ratio (DPR) is currently 10.81%.

Institutional Trading of ESAB

Large investors have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in ESAB in the third quarter valued at about $30,000. Los Angeles Capital Management LLC acquired a new position in shares of ESAB in the 4th quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. increased its stake in ESAB by 109.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after purchasing an additional 174 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in ESAB by 259.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after buying an additional 275 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in ESAB by 3,023.1% during the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after buying an additional 393 shares during the period. 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.