ESAB (NYSE:ESAB) Price Target Raised to $140.00

ESAB (NYSE:ESAB) had its price objective increased by JPMorgan Chase & Co. from $133.00 to $140.00 in a research report sent to investors on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

ESAB has been the topic of several other research reports. Evercore ISI raised ESAB from an “underperform” rating to an “inline” rating and decreased their price target for the company from $122.00 to $120.00 in a research note on Monday, February 24th. Jefferies Financial Group assumed coverage on shares of ESAB in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, Stifel Nicolaus dropped their price target on shares of ESAB from $131.00 to $125.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, ESAB presently has an average rating of “Moderate Buy” and a consensus price target of $134.14.

ESAB Trading Down 1.7 %

Shares of ESAB opened at $120.35 on Tuesday. ESAB has a 12-month low of $88.54 and a 12-month high of $135.97. The firm has a market capitalization of $7.28 billion, a P/E ratio of 27.86, a P/E/G ratio of 2.01 and a beta of 1.36. The firm has a 50-day moving average price of $122.71 and a 200 day moving average price of $118.56. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.13. The business had revenue of $633.20 million during the quarter, compared to analysts’ expectations of $636.43 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. Sell-side analysts forecast that ESAB will post 5.16 EPS for the current year.

ESAB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. ESAB’s dividend payout ratio (DPR) is presently 7.41%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ESAB. JPMorgan Chase & Co. increased its stake in ESAB by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock worth $202,001,000 after buying an additional 337,983 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of ESAB in the fourth quarter worth $36,000. Atria Investments Inc increased its position in shares of ESAB by 30.1% during the fourth quarter. Atria Investments Inc now owns 9,279 shares of the company’s stock worth $1,113,000 after acquiring an additional 2,147 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in shares of ESAB in the fourth quarter valued at $254,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in ESAB in the fourth quarter valued at $204,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

About ESAB

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.