Lincoln Electric (NASDAQ:LECO) Lowered to Hold at BidaskClub

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BidaskClub lowered shares of Lincoln Electric (NASDAQ:LECO) from a buy rating to a hold rating in a research note issued to investors on Friday, BidAskClub reports.

Several other research analysts have also weighed in on the stock. Robert W. Baird upgraded shares of Lincoln Electric from a neutral rating to an outperform rating and upped their target price for the stock from $93.00 to $100.00 in a research report on Friday, July 12th. Zacks Investment Research upgraded shares of Lincoln Electric from a sell rating to a hold rating and set a $87.00 price target on the stock in a research report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $95.56.

Shares of LECO opened at $80.99 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.84. The business’s 50-day moving average is $82.86. Lincoln Electric has a twelve month low of $72.28 and a twelve month high of $97.93. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 1.44 and a beta of 1.24.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.02). Lincoln Electric had a return on equity of 36.16% and a net margin of 10.42%. The company had revenue of $777.01 million for the quarter, compared to analyst estimates of $786.03 million. During the same quarter in the previous year, the company posted $1.22 earnings per share. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Sell-side analysts predict that Lincoln Electric will post 5.08 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.47 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.32%. Lincoln Electric’s dividend payout ratio is presently 39.00%.

Several hedge funds have recently added to or reduced their stakes in the company. Keybank National Association OH boosted its position in Lincoln Electric by 0.8% during the first quarter. Keybank National Association OH now owns 1,362,557 shares of the industrial products company’s stock worth $114,278,000 after acquiring an additional 10,328 shares during the last quarter. Janus Henderson Group PLC boosted its position in Lincoln Electric by 4.8% during the second quarter. Janus Henderson Group PLC now owns 1,217,080 shares of the industrial products company’s stock worth $100,190,000 after acquiring an additional 55,850 shares during the last quarter. Principal Financial Group Inc. boosted its position in Lincoln Electric by 0.7% during the first quarter. Principal Financial Group Inc. now owns 1,020,567 shares of the industrial products company’s stock worth $85,597,000 after acquiring an additional 7,525 shares during the last quarter. Geode Capital Management LLC boosted its position in Lincoln Electric by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 767,756 shares of the industrial products company’s stock worth $60,537,000 after acquiring an additional 39,548 shares during the last quarter. Finally, Norges Bank acquired a new stake in Lincoln Electric during the fourth quarter worth approximately $50,188,000. Institutional investors and hedge funds own 73.05% of the company’s stock.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

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Analyst Recommendations for Lincoln Electric (NASDAQ:LECO)

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