Lincoln Electric (NASDAQ:LECO) Sets New 52-Week High – Time to Buy?

Lincoln Electric Holdings, Inc. (NASDAQ:LECO)’s stock price hit a new 52-week high on Thursday . The company traded as high as $258.87 and last traded at $255.82, with a volume of 345020 shares. The stock had previously closed at $251.14.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stifel Nicolaus lowered their price objective on Lincoln Electric from $265.00 to $252.00 and set a “hold” rating on the stock in a report on Tuesday, December 16th. Barclays increased their price target on Lincoln Electric from $235.00 to $260.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Morgan Stanley dropped their price target on shares of Lincoln Electric from $209.00 to $208.00 and set an “underweight” rating on the stock in a research report on Monday. Zacks Research downgraded shares of Lincoln Electric from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen lowered shares of Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.50.

Lincoln Electric Stock Performance

The firm’s 50 day moving average price is $239.89 and its 200-day moving average price is $236.26. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 1.57 and a beta of 1.26. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.71 and a quick ratio of 1.07.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Thursday, October 30th. The industrial products company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.39 by $0.08. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Lincoln Electric had a net margin of 12.56% and a return on equity of 40.33%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.14 EPS. On average, analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current year.

Institutional Investors Weigh In On Lincoln Electric

A number of institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. raised its holdings in Lincoln Electric by 110.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,460 shares of the industrial products company’s stock valued at $1,069,000 after acquiring an additional 2,337 shares in the last quarter. Kaufman Rossin Wealth LLC raised its stake in shares of Lincoln Electric by 6.8% in the fourth quarter. Kaufman Rossin Wealth LLC now owns 1,096 shares of the industrial products company’s stock valued at $263,000 after purchasing an additional 70 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Lincoln Electric in the fourth quarter worth $296,000. Pallas Capital Advisors LLC boosted its stake in Lincoln Electric by 5.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 5,340 shares of the industrial products company’s stock worth $1,280,000 after buying an additional 254 shares in the last quarter. Finally, Trinity Financial Advisors LLC bought a new stake in Lincoln Electric in the 4th quarter valued at $202,000. 79.61% of the stock is owned by institutional investors and hedge funds.

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.