ESAB Corporation (NYSE:ESAB) Receives Consensus Rating of “Moderate Buy” from Analysts

ESAB Corporation (NYSE:ESAB) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $138.3750.

Several research firms recently commented on ESAB. Stifel Nicolaus dropped their price target on ESAB from $141.00 to $137.00 and set a “buy” rating for the company in a research report on Monday. Roth Capital raised their price objective on ESAB from $142.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Weiss Ratings cut ESAB from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. DA Davidson began coverage on ESAB in a research report on Monday, June 15th. They set a “buy” rating and a $130.00 target price on the stock. Finally, Jefferies Financial Group restated a “buy” rating and set a $130.00 price target (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st.

ESAB Price Performance

ESAB stock opened at $83.83 on Friday. ESAB has a 52 week low of $82.18 and a 52 week high of $137.42. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91. The company has a fifty day simple moving average of $92.26 and a two-hundred day simple moving average of $104.61. The firm has a market capitalization of $5.10 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $745.60 million during the quarter, compared to analysts’ expectations of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. Analysts anticipate that ESAB will post 5.72 earnings per share for the current fiscal year.

ESAB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were paid a $0.12 dividend. This is an increase from ESAB’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 2nd. ESAB’s payout ratio is currently 14.20%.

Institutional Trading of ESAB

Several institutional investors have recently added to or reduced their stakes in ESAB. FNY Investment Advisers LLC purchased a new position in ESAB during the 3rd quarter valued at $30,000. Los Angeles Capital Management LLC bought a new position in shares of ESAB during the fourth quarter valued at approximately $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 valued at $40,000 after acquiring an additional 174 shares during the period. Smartleaf Asset Management LLC grew its stake in ESAB by 259.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position 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 buying an additional 393 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

About ESAB

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.