Lincoln Electric (NASDAQ:LECO) Shares Gap Up – What’s Next?

Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) gapped up before the market opened on Friday . The stock had previously closed at $256.87, but opened at $265.60. Lincoln Electric shares last traded at $264.35, with a volume of 6,163 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Lincoln Electric from $209.00 to $208.00 and set an “underweight” rating for the company in a research report on Monday, January 12th. Stifel Nicolaus lifted their target price on shares of Lincoln Electric from $252.00 to $253.00 and gave the company a “hold” rating in a report on Friday, January 23rd. Barclays boosted their price target on Lincoln Electric from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Wall Street Zen lowered Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Zacks Research downgraded Lincoln Electric from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lincoln Electric currently has an average rating of “Moderate Buy” and an average target price of $253.00.

Lincoln Electric Price Performance

The company has a market capitalization of $14.54 billion, a P/E ratio of 28.22, a price-to-earnings-growth ratio of 1.61 and a beta of 1.26. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.71 and a quick ratio of 1.07. The firm’s 50-day moving average is $247.32 and its 200-day moving average is $239.44.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, October 30th. The industrial products company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.08. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Lincoln Electric had a net margin of 12.56% and a return on equity of 40.33%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.14 EPS. Analysts predict that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Lincoln Electric during the 2nd quarter valued at approximately $354,063,000. M&T Bank Corp lifted its holdings in Lincoln Electric by 5,862.4% during the fourth quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock valued at $304,670,000 after purchasing an additional 1,250,041 shares in the last quarter. Boston Partners bought a new position in shares of Lincoln Electric in the second quarter worth approximately $141,550,000. AQR Capital Management LLC increased its stake in shares of Lincoln Electric by 439.8% in the second quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company’s stock worth $123,691,000 after purchasing an additional 486,090 shares in the last quarter. Finally, Cartenna Capital LP raised its position in shares of Lincoln Electric by 675.0% during the 3rd quarter. Cartenna Capital LP now owns 310,000 shares of the industrial products company’s stock valued at $73,107,000 after purchasing an additional 270,000 shares during the period. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.