Lincoln Electric Holdings, Inc. (LECO) Lifted to Buy at Zacks Investment Research

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $108.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.93% from the company’s previous close.

According to Zacks, “Lincoln Electric will benefit from focus on customers and execution of its 2020 vision. The company’s focus on investment in long-term, profitable growth, with its broad range of product launches and strategic acquisitions, will also aid growth. It will also gain from consistent focus on cost reduction and strong cash flow generation. In addition, Lincoln Electric's strong balance sheet position and share repurchases will drive its performance. Lincoln Electric also has a positive record of earnings surprises in the last few quarters. Driven by these positives, the stock outperformed the broader industry in the past one year. However, the company's results will be hurt by increase in expenses, stronger U.S. dollar and  weakness in industrial production. Ongoing declines in the energy and heavy fabrication sectors also remain headwinds.”

A number of other research analysts have also recently commented on the company. Deutsche Bank AG cut their target price on Lincoln Electric Holdings from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 28th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $78.00 target price on shares of Lincoln Electric Holdings in a research note on Monday, April 17th. Barclays PLC reaffirmed an “equal weight” rating and set a $82.00 target price (up previously from $75.00) on shares of Lincoln Electric Holdings in a research note on Saturday, April 22nd. Finally, Stifel Nicolaus upped their target price on Lincoln Electric Holdings from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, March 27th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Lincoln Electric Holdings has a consensus rating of “Hold” and a consensus target price of $82.57.

Analyst Recommendations for Lincoln Electric Holdings (NASDAQ:LECO)

Shares of Lincoln Electric Holdings (NASDAQ LECO) opened at 97.36 on Tuesday. The stock has a market cap of $6.41 billion, a PE ratio of 32.59 and a beta of 0.91. Lincoln Electric Holdings has a 12-month low of $56.02 and a 12-month high of $97.97. The firm has a 50-day moving average price of $90.96 and a 200 day moving average price of $85.34.

Lincoln Electric Holdings (NASDAQ:LECO) last released its earnings results on Tuesday, April 18th. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. The firm had revenue of $580.90 million for the quarter, compared to analysts’ expectations of $568.31 million. Lincoln Electric Holdings had a return on equity of 30.17% and a net margin of 8.70%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share. Equities research analysts expect that Lincoln Electric Holdings will post $3.67 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.44%. Lincoln Electric Holdings’s payout ratio is 46.82%.

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In related news, Director David H. Gunning sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $90.00, for a total value of $450,000.00. Following the completion of the sale, the director now owns 9,146 shares in the company, valued at $823,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William E. Macdonald III sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $89.71, for a total value of $493,405.00. Following the completion of the sale, the director now owns 17,416 shares of the company’s stock, valued at approximately $1,562,389.36. The disclosure for this sale can be found here. Insiders sold 60,930 shares of company stock valued at $5,529,686 in the last quarter. 3.27% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the stock. Meadow Creek Investment Management LLC raised its stake in shares of Lincoln Electric Holdings by 6.6% in the first quarter. Meadow Creek Investment Management LLC now owns 1,808 shares of the industrial products company’s stock worth $157,000 after buying an additional 112 shares during the last quarter. Park National Corp OH purchased a new stake in shares of Lincoln Electric Holdings during the first quarter worth about $206,000. Neuburgh Advisers LLC raised its stake in shares of Lincoln Electric Holdings by 6.6% in the first quarter. Neuburgh Advisers LLC now owns 2,486 shares of the industrial products company’s stock worth $216,000 after buying an additional 154 shares during the last quarter. Commerce Bank purchased a new stake in shares of Lincoln Electric Holdings during the first quarter worth about $219,000. Finally, Tyers Asset Management LLC purchased a new stake in shares of Lincoln Electric Holdings during the fourth quarter worth about $228,000. Hedge funds and other institutional investors own 64.56% of the company’s stock.

About Lincoln Electric Holdings

Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.

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