Lincoln Electric (NASDAQ:LECO) Upgraded at UBS Group

Lincoln Electric (NASDAQ:LECO) was upgraded by equities research analysts at UBS Group to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on LECO. Barclays boosted their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. DA Davidson assumed coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective for the company. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $257.00 to $283.00 in a report on Monday. Finally, Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $307.22.

Lincoln Electric Stock Performance

LECO stock opened at $286.97 on Monday. The stock’s 50 day simple moving average is $262.94 and its 200 day simple moving average is $264.92. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. Lincoln Electric has a 12-month low of $216.22 and a 12-month high of $310.00. The stock has a market capitalization of $15.64 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 1.71 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company earned $2.60 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, research analysts forecast that Lincoln Electric will post 11.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the transaction, the executive vice president owned 9,319 shares in the company, valued at $2,560,954.39. This trade represents a 8.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.68% of the company’s stock.

Hedge Funds Weigh In On Lincoln Electric

Several institutional investors and hedge funds have recently bought and sold shares of LECO. Elyxium Wealth LLC bought a new position in shares of Lincoln Electric in the fourth quarter worth about $27,000. Keating Financial Advisory Services Inc. purchased a new stake in Lincoln Electric in the 2nd quarter worth approximately $29,000. Summit Securities Group LLC purchased a new stake in Lincoln Electric in the 4th quarter worth approximately $46,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Lincoln Electric during the 2nd quarter worth approximately $48,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 255 shares in the last quarter. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

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.