ESAB (NYSE:ESAB) Given New $138.00 Price Target at JPMorgan Chase & Co.

ESAB (NYSE:ESAB) had its price target dropped by research analysts at JPMorgan Chase & Co. from $140.00 to $138.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 14.57% from the company’s current price.

ESAB has been the subject of several other research reports. Stifel Nicolaus upped their price objective on shares of ESAB from $141.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Weiss Ratings restated a “hold (c+)” rating on shares of ESAB in a research report on Monday, December 29th. UBS Group upped their price target on shares of ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, Wall Street Zen lowered shares of ESAB from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.25.

ESAB Stock Performance

Shares of NYSE ESAB traded up $1.16 during midday trading on Wednesday, hitting $120.45. 137,544 shares of the company’s stock were exchanged, compared to its average volume of 338,931. ESAB has a twelve month low of $100.17 and a twelve month high of $135.84. The firm has a market cap of $7.31 billion, a P/E ratio of 30.34, a PEG ratio of 2.10 and a beta of 1.24. The stock’s 50 day moving average price is $112.75 and its 200-day moving average price is $116.71. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24.

ESAB (NYSE:ESAB) last announced its earnings results on Wednesday, October 29th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.05. ESAB had a return on equity of 15.93% and a net margin of 8.70%.The firm had revenue of $727.85 million for the quarter, compared to the consensus estimate of $663.57 million. During the same quarter in the previous year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. Equities research analysts anticipate that ESAB will post 5.16 EPS for the current year.

Institutional Investors Weigh In On ESAB

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in shares of ESAB during the 3rd quarter worth $30,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after purchasing an additional 174 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of ESAB in the 3rd quarter valued at $58,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of ESAB in the 2nd quarter valued at $59,000. Finally, Farther Finance Advisors LLC increased its stake in ESAB by 60.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $75,000 after purchasing an additional 252 shares in the last quarter. Institutional investors and hedge funds 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.