UBS Group Issues Pessimistic Forecast for ESAB (NYSE:ESAB) Stock Price

ESAB (NYSE:ESAB) had its target price reduced by research analysts at UBS Group from $145.00 to $115.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group‘s target price would suggest a potential upside of 45.29% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Roth Capital reissued a “buy” rating and set a $133.00 price objective (down from $151.00) on shares of ESAB in a research report on Tuesday, September 15th. Stifel Nicolaus set a $114.00 price objective on shares of ESAB in a research note on Monday, October 19th. JPMorgan Chase & Co. reduced their target price on shares of ESAB from $125.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, October 8th. Weiss Ratings downgraded shares of ESAB from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Oppenheimer decreased their target price on shares of ESAB from $135.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, October 21st. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.14.

ESAB Price Performance

Shares of NYSE ESAB opened at $79.15 on Thursday. The stock has a market cap of $4.92 billion, a P/E ratio of 32.05, a P/E/G ratio of 1.27 and a beta of 1.17. ESAB has a twelve month low of $62.74 and a twelve month high of $137.42. The stock has a 50 day moving average of $69.83 and a two-hundred day moving average of $92.71. The company has a current ratio of 1.92, a quick ratio of 1.22 and a debt-to-equity ratio of 0.95.

ESAB (NYSE:ESAB) last announced its earnings results on Wednesday, November 4th. The company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). The business had revenue of $824.52 million for the quarter, compared to analysts’ expectations of $786.68 million. ESAB had a return on equity of 14.17% and a net margin of 5.05%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $1.32 earnings per share. On average, research analysts forecast that ESAB will post 5.30 earnings per share for the current year.

Institutional Investors Weigh In On ESAB

Several large investors have recently modified their holdings of ESAB. Fifth Third Bancorp grew its position in ESAB by 8.4% in the 3rd quarter. Fifth Third Bancorp now owns 13,128 shares of the company’s stock valued at $865,000 after buying an additional 1,019 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in ESAB in the 3rd quarter valued at $2,661,000. Van Berkom & Associates Inc. raised its position in ESAB by 24.4% during the 3rd quarter. Van Berkom & Associates Inc. now owns 821,499 shares of the company’s stock worth $54,120,000 after buying an additional 161,317 shares during the last quarter. Kestra Investment Management LLC raised its position in ESAB by 22.8% during the 3rd quarter. Kestra Investment Management LLC now owns 18,672 shares of the company’s stock worth $1,230,000 after buying an additional 3,470 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in ESAB by 1.2% during the 3rd quarter. Retirement Systems of Alabama now owns 95,175 shares of the company’s stock worth $6,270,000 after buying an additional 1,084 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

About ESAB

ESAB Corporation (NYSE: ESAB) is a global provider of welding and cutting technologies. The company develops and supplies equipment, consumables, automation solutions and related products used to join, cut and process metals across industrial and commercial applications.

Its product portfolio includes welding machines, cutting systems, welding electrodes and wires, filler metals, gas-control equipment, plasma and oxyfuel technologies, and digital or automated solutions. ESAB also offers products and services designed to support fabrication, manufacturing, construction, transportation, energy and maintenance operations.

ESAB serves customers in the Americas, Europe, the Middle East, Africa and the Asia-Pacific region through a portfolio of established brands and distribution channels.