ESAB (NYSE:ESAB – Get Free Report) had its target price decreased by equities research analysts at Oppenheimer from $140.00 to $135.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 56.99% from the stock’s previous close.
Several other equities analysts have also issued reports on the stock. Roth Capital lifted their price objective on shares of ESAB from $142.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Jefferies Financial Group restated a “buy” rating and set a $130.00 target price (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Weiss Ratings cut ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Stifel Nicolaus cut their price target on ESAB from $141.00 to $137.00 and set a “buy” rating on the stock in a report on Monday. Finally, DA Davidson initiated coverage on ESAB in a research report on Monday, June 15th. They issued a “buy” rating and a $130.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.38.
View Our Latest Stock Report on ESAB
ESAB Stock Up 3.6%
ESAB (NYSE:ESAB – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). ESAB had a net margin of 7.11% and a return on equity of 15.04%. The business had revenue of $745.60 million for the quarter, compared to analysts’ expectations of $706.74 million. During the same period last year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts forecast that ESAB will post 5.79 earnings per share for the current year.
Institutional Trading of ESAB
A number of institutional investors have recently made changes to their positions in ESAB. Los Angeles Capital Management LLC acquired a new position in ESAB during the 4th quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after acquiring an additional 174 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of ESAB by 259.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of ESAB by 3,023.1% in the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after purchasing an additional 393 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in ESAB by 185.3% in the 4th quarter. UMB Bank n.a. now owns 642 shares of the company’s stock worth $72,000 after purchasing an additional 417 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.
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.
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