Zacks Investment Research upgraded shares of Lincoln Electric (NASDAQ:LECO) from a hold rating to a buy rating in a research report released on Monday morning. They currently have $106.00 price objective on the industrial products company’s stock.
According to Zacks, “Lincoln Electric stands to gain from its improving end markets. Focus on commercializing innovative products, relatively stable pricing environment and cost-cutting initiatives will drive growth. It will also benefit from consistent investment in welding automation. Further, the acquisition of Air Liquide will enhance 2020 Vision and Strategy and enables Lincoln to build its global footprint. It will also be accretive to earnings. The company has a positive record of earnings surprises. “
Several other brokerages also recently issued reports on LECO. Oppenheimer reiterated a hold rating on shares of Lincoln Electric in a report on Tuesday, December 12th. Stifel Nicolaus lowered their price target on shares of Lincoln Electric from $100.00 to $92.00 and set a hold rating for the company in a report on Monday, October 30th. Royal Bank of Canada reiterated a hold rating on shares of Lincoln Electric in a report on Monday, October 30th. Barclays initiated coverage on shares of Lincoln Electric in a report on Tuesday, December 12th. They set an equal weight rating and a $90.00 price target for the company. Finally, ValuEngine upgraded shares of Lincoln Electric from a hold rating to a buy rating in a report on Wednesday, September 13th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $99.13.
Shares of Lincoln Electric (NASDAQ:LECO) traded up $0.40 on Monday, reaching $97.87. 496,929 shares of the company’s stock traded hands, compared to its average volume of 401,777. Lincoln Electric has a 1-year low of $77.68 and a 1-year high of $99.59. The firm has a market capitalization of $6,440.00, a P/E ratio of 23.58, a P/E/G ratio of 1.92 and a beta of 1.08. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 0.75.
Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). The firm had revenue of $669.50 million for the quarter, compared to analyst estimates of $658.48 million. Lincoln Electric had a net margin of 11.34% and a return on equity of 28.97%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. equities analysts expect that Lincoln Electric will post 3.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, December 28th. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a dividend yield of 1.59%. Lincoln Electric’s dividend payout ratio is 37.59%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlueMountain Capital Management LLC acquired a new stake in Lincoln Electric in the second quarter valued at $179,000. Dynamic Technology Lab Private Ltd acquired a new stake in Lincoln Electric in the second quarter valued at $219,000. Campbell & CO Investment Adviser LLC acquired a new stake in Lincoln Electric in the third quarter valued at $219,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Lincoln Electric by 11.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,435 shares of the industrial products company’s stock valued at $224,000 after purchasing an additional 244 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in Lincoln Electric by 311.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,470 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 1,870 shares during the period. Institutional investors and hedge funds own 63.64% of the company’s stock.
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About Lincoln Electric
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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