ESAB (NYSE:ESAB) Price Target Cut to $138.00 by Analysts at Stifel Nicolaus

ESAB (NYSE:ESAB) had its price target lowered by research analysts at Stifel Nicolaus from $158.00 to $138.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 35.19% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Roth Mkm reiterated a “buy” rating and issued a $146.00 target price (down from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. Oppenheimer increased their target price on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 target price (down from $150.00) on shares of ESAB in a research report on Tuesday, March 31st. Weiss Ratings cut shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Finally, Wall Street Zen cut shares of ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.33.

ESAB Price Performance

NYSE:ESAB traded up $7.43 during trading hours on Wednesday, reaching $102.08. 160,197 shares of the company were exchanged, compared to its average volume of 537,906. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.56. The stock’s 50-day moving average is $113.50 and its 200-day moving average is $114.42. The firm has a market cap of $6.21 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 1.82 and a beta of 1.36. ESAB has a twelve month low of $89.41 and a twelve month high of $137.42.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Friday, February 20th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.01. The company had revenue of $687.00 million during the quarter, compared to analysts’ expectations of $687.80 million. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. On average, sell-side analysts anticipate that ESAB will post 5.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ESAB news, CEO Shyam Kambeyanda sold 59,404 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $123.79, for a total value of $7,353,621.16. Following the transaction, the chief executive officer directly owned 99,864 shares in the company, valued at $12,362,164.56. The trade was a 37.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.30% of the stock is owned by insiders.

Hedge Funds Weigh In On ESAB

Several institutional investors and hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in ESAB by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock valued at $1,617,000 after purchasing an additional 95 shares during the last quarter. Xponance Inc. increased its position in shares of ESAB by 1.6% during the third quarter. Xponance Inc. now owns 6,488 shares of the company’s stock valued at $725,000 after acquiring an additional 102 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of ESAB by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock valued at $2,191,000 after acquiring an additional 107 shares during the last quarter. Coldstream Capital Management Inc. increased its position in shares of ESAB by 5.9% during the third quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock valued at $300,000 after acquiring an additional 149 shares during the last quarter. Finally, Lafayette Investments Inc. increased its position in shares of ESAB by 0.5% during the fourth quarter. Lafayette Investments Inc. now owns 34,266 shares of the company’s stock valued at $3,828,000 after acquiring an additional 161 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

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.