ESAB Corporation (NYSE:ESAB) Receives $139.88 Consensus Target Price from Brokerages

ESAB Corporation (NYSE:ESAB) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $139.8750.

A number of analysts have weighed in on ESAB shares. Wall Street Zen cut shares of ESAB from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Oppenheimer reissued an “outperform” rating and set a $140.00 target price on shares of ESAB in a report on Tuesday, April 14th. Roth Mkm set a $142.00 target price on shares of ESAB in a report on Thursday, April 16th. DA Davidson dropped their target price on shares of ESAB from $146.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Finally, Weiss Ratings cut ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th.

Institutional Trading of ESAB

Institutional investors and hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new stake in shares of ESAB during the 3rd quarter worth approximately $30,000. Los Angeles Capital Management LLC acquired a new stake in shares of ESAB in the 4th quarter worth about $33,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after acquiring an additional 174 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of ESAB by 259.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in shares of ESAB by 3,023.1% in the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after acquiring an additional 393 shares during the period. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Trading Down 0.5%

Shares of NYSE ESAB opened at $89.98 on Friday. The stock’s 50 day moving average price is $97.04 and its two-hundred day moving average price is $109.54. ESAB has a 52-week low of $83.17 and a 52-week high of $137.42. The stock has a market capitalization of $5.48 billion, a P/E ratio of 26.62, a PEG ratio of 1.66 and a beta of 1.19. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $745.60 million for the quarter, compared to analyst estimates of $706.74 million. ESAB had a net margin of 7.11% and a return on equity of 15.04%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS. On average, analysts anticipate that ESAB will post 5.81 earnings per share for the current fiscal year.

ESAB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, July 2nd. This is a positive change from ESAB’s previous quarterly dividend of $0.10. ESAB’s payout ratio is currently 11.83%.

ESAB Company Profile

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.