ESAB (NYSE:ESAB) Price Target Raised to $122.00

by · The Markets Daily

ESAB (NYSE:ESAB – Get Free Report) had its price target raised by Oppenheimer from $115.00 to $122.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 9.00% from the stock’s previous close.

Other analysts also recently issued reports about the company. Bank of America increased their target price on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. raised their price target on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Evercore ISI decreased their target price on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Stifel Nicolaus decreased their price target on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.17.

Get Our Latest Stock Analysis on ESAB

ESAB Stock Performance

Shares of NYSE:ESAB traded down $0.96 during midday trading on Tuesday, reaching $111.93. 68,902 shares of the company traded hands, compared to its average volume of 244,234. ESAB has a 12 month low of $61.43 and a 12 month high of $114.77. The firm’s fifty day moving average price is $102.94 and its two-hundred day moving average price is $101.66. The company has a quick ratio of 1.21, a current ratio of 1.86 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.42.

ESAB (NYSE:ESAB – Get Free Report) last released its earnings results on Friday, August 2nd. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $707.10 million during the quarter, compared to analyst estimates of $686.75 million. ESAB had a return on equity of 17.49% and a net margin of 9.06%. ESAB’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 EPS. On average, equities analysts expect that ESAB will post 4.84 earnings per share for the current year.

Institutional Trading of ESAB

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESAB. Quent Capital LLC lifted its stake in shares of ESAB by 8.4% in the first quarter. Quent Capital LLC now owns 1,718 shares of the company’s stock worth $190,000 after buying an additional 133 shares in the last quarter. Burns Matteson Capital Management LLC lifted its stake in ESAB by 7.1% in the second quarter. Burns Matteson Capital Management LLC now owns 2,149 shares of the company’s stock worth $203,000 after acquiring an additional 142 shares during the last quarter. GAMMA Investing LLC lifted its stake in ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares during the last quarter. Legacy Capital Group California Inc. lifted its stake in ESAB by 8.5% in the second quarter. Legacy Capital Group California Inc. now owns 2,139 shares of the company’s stock worth $202,000 after acquiring an additional 168 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of ESAB by 5.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,829 shares of the company’s stock worth $362,000 after buying an additional 185 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Company Profile

(Get Free Report)

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.

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