Lincoln Electric (NASDAQ:LECO) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday, BidAskClub reports.

Several other research analysts have also issued reports on the stock. Seaport Global Securities lowered shares of Lincoln Electric from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 18th. Stifel Nicolaus lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating and dropped their price target for the stock from $97.00 to $84.00 in a research report on Tuesday, October 8th. Finally, Oppenheimer lowered shares of Lincoln Electric from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $91.33.

Shares of LECO traded up $0.85 during trading hours on Tuesday, reaching $96.69. 2,638 shares of the company traded hands, compared to its average volume of 252,315. The stock’s fifty day moving average is $95.47 and its 200 day moving average is $88.26. The stock has a market cap of $5.89 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 1.68 and a beta of 1.23. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.17 and a current ratio of 1.89. Lincoln Electric has a 1-year low of $75.57 and a 1-year high of $98.32.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.15). Lincoln Electric had a return on equity of 36.00% and a net margin of 10.50%. The business had revenue of $730.80 million during the quarter, compared to analyst estimates of $750.21 million. During the same period last year, the company earned $1.21 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities research analysts predict that Lincoln Electric will post 4.69 EPS for the current year.

In related news, CFO Vincent K. Petrella sold 19,250 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $95.70, for a total value of $1,842,225.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher L. Mapes sold 28,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $94.41, for a total transaction of $2,690,685.00. Following the completion of the transaction, the chief executive officer now owns 236,705 shares of the company’s stock, valued at approximately $22,347,319.05. The disclosure for this sale can be found here. Insiders sold 75,625 shares of company stock valued at $7,120,786 over the last ninety days. 3.39% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. bought a new position in Lincoln Electric during the 3rd quarter worth approximately $36,000. Quest Capital Management Inc. ADV bought a new position in Lincoln Electric during the 3rd quarter worth approximately $57,000. Strategic Wealth Partners Ltd. bought a new position in Lincoln Electric during the 3rd quarter worth approximately $88,000. Captrust Financial Advisors boosted its stake in Lincoln Electric by 12.6% during the 2nd quarter. Captrust Financial Advisors now owns 1,343 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 150 shares during the last quarter. Finally, Griffin Asset Management Inc. bought a new position in Lincoln Electric during the 2nd quarter worth approximately $165,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

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Analyst Recommendations for Lincoln Electric (NASDAQ:LECO)

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