Lincoln Electric (NASDAQ:LECO) Reaches New 52-Week High on Strong Earnings

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $310.00 and last traded at $303.9820, with a volume of 411490 shares changing hands. The stock had previously closed at $290.50.

The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.13. Lincoln Electric had a net margin of 12.56% and a return on equity of 40.33%. During the same quarter in the prior year, the business earned $2.57 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LECO shares. Wall Street Zen downgraded Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research lowered Lincoln Electric from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Stifel Nicolaus upped their target price on Lincoln Electric from $252.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, January 23rd. Roth Mkm reissued a “buy” rating and set a $297.00 price target (up from $285.00) on shares of Lincoln Electric in a research note on Tuesday, February 3rd. Finally, Morgan Stanley reduced their target price on shares of Lincoln Electric from $209.00 to $208.00 and set an “underweight” rating on the stock in a report on Monday, January 12th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.00.

Institutional Investors Weigh In On Lincoln Electric

Institutional investors and hedge funds have recently modified their holdings of the company. Quent Capital LLC acquired a new stake in shares of Lincoln Electric during the third quarter worth about $27,000. Frazier Financial Advisors LLC grew its holdings in Lincoln Electric by 3,700.0% in the third quarter. Frazier Financial Advisors LLC now owns 114 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 111 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in Lincoln Electric during the fourth quarter valued at about $27,000. Root Financial Partners LLC acquired a new position in Lincoln Electric during the third quarter valued at approximately $31,000. Finally, Vermillion & White Wealth Management Group LLC increased its holdings in Lincoln Electric by 82.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 155 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Stock Performance

The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.07 and a current ratio of 1.71. The company’s fifty day simple moving average is $255.82 and its two-hundred day simple moving average is $243.44. The company has a market capitalization of $16.59 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 1.83 and a beta of 1.26.

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.