ESAB Co. (NYSE:ESAB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of ESAB Co. (NYSE:ESAB) have received a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $133.43.

A number of brokerages have weighed in on ESAB. Stifel Nicolaus lowered ESAB from a “buy” rating to a “hold” rating and reduced their price target for the stock from $138.00 to $130.00 in a research note on Monday, November 18th. JPMorgan Chase & Co. increased their target price on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and lifted their price target for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. Oppenheimer reiterated an “outperform” rating and set a $144.00 price objective (up from $138.00) on shares of ESAB in a report on Friday, November 8th. Finally, Jefferies Financial Group began coverage on shares of ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price for the company.

ESAB Stock Up 0.3 %

ESAB opened at $122.74 on Friday. The firm has a market cap of $7.42 billion, a P/E ratio of 28.74, a PEG ratio of 2.25 and a beta of 1.34. The business’s fifty day simple moving average is $124.64 and its 200 day simple moving average is $108.12. ESAB has a 52 week low of $82.44 and a 52 week high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.13. The company had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $1.08 EPS. As a group, equities research analysts anticipate that ESAB will post 4.94 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Tuesday, December 31st. ESAB’s dividend payout ratio (DPR) is presently 7.49%.

Insider Buying and Selling at ESAB

In other ESAB news, Director Rhonda L. Jordan sold 4,254 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of ESAB stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the sale, the chief executive officer now owns 53,902 shares in the company, valued at $6,627,789.92. This represents a 52.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,418 shares of company stock valued at $8,431,773 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On ESAB

A number of large investors have recently added to or reduced their stakes in ESAB. Hantz Financial Services Inc. purchased a new stake in ESAB during the 2nd quarter worth approximately $42,000. GAMMA Investing LLC increased its stake in shares of ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the last quarter. Blue Trust Inc. raised its holdings in ESAB by 629.8% in the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after acquiring an additional 529 shares in the last quarter. Quest Partners LLC boosted its stake in ESAB by 12,140.0% during the 3rd quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after acquiring an additional 607 shares during the last quarter. Finally, Millburn Ridgefield Corp bought a new position in ESAB during the 3rd quarter valued at $77,000. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Company Profile

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.