Lincoln Electric (NASDAQ:LECO – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.
Several other research firms have also commented on LECO. Barclays raised their target price on shares of Lincoln Electric from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group upped their price target on Lincoln Electric from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings cut Lincoln Electric from a “buy (b)” rating to a “hold (c)” rating in a report on Wednesday. DA Davidson set a $340.00 price objective on shares of Lincoln Electric in a research report on Thursday. Finally, Stifel Nicolaus boosted their price target on shares of Lincoln Electric from $271.00 to $290.00 and gave the company a “hold” rating in a research report on Wednesday. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $319.11.
View Our Latest Stock Report on Lincoln Electric
Lincoln Electric Price Performance
Lincoln Electric stock opened at $276.92 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.91 and a quick ratio of 1.18. Lincoln Electric has a 1-year low of $216.22 and a 1-year high of $310.00. The stock has a market cap of $15.00 billion, a PE ratio of 26.55, a P/E/G ratio of 1.62 and a beta of 1.19. The stock’s fifty day moving average is $267.96 and its two-hundred day moving average is $265.93.
Lincoln Electric (NASDAQ:LECO – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.17. Lincoln Electric had a net margin of 12.40% and a return on equity of 40.06%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $2.47 earnings per share. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts expect that Lincoln Electric will post 11.38 EPS for the current fiscal year.
Hedge Funds Weigh In On Lincoln Electric
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC increased its holdings in shares of Lincoln Electric by 36.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,141 shares of the industrial products company’s stock worth $1,316,000 after buying an additional 1,379 shares during the last quarter. Provenance Wealth Advisors LLC acquired a new position in Lincoln Electric in the third quarter valued at $407,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Lincoln Electric in the 3rd quarter valued at approximately $12,025,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Lincoln Electric by 6.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,980 shares of the industrial products company’s stock worth $524,000 after acquiring an additional 124 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lincoln Electric in the 3rd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.
Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.
Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.
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