Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Given Average Rating of “Hold” by Brokerages

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) has been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $136.83.

LECO has been the topic of several recent analyst reports. Oppenheimer increased their price target on Lincoln Electric from $147.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Zacks Investment Research downgraded Lincoln Electric from a “buy” rating to a “sell” rating and set a $141.00 price objective on the stock. in a report on Tuesday, September 28th. Morgan Stanley reduced their price objective on Lincoln Electric from $142.00 to $138.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Barclays lifted their price target on Lincoln Electric from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 14th.

NASDAQ:LECO opened at $132.47 on Thursday. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.66 and a beta of 1.17. Lincoln Electric has a 1 year low of $97.12 and a 1 year high of $143.30. The business has a 50 day simple moving average of $135.83 and a 200-day simple moving average of $131.93. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.78 and a quick ratio of 1.09.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Tuesday, July 27th. The industrial products company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.19. Lincoln Electric had a return on equity of 41.01% and a net margin of 9.97%. The firm had revenue of $826.50 million for the quarter, compared to the consensus estimate of $790.15 million. During the same period in the prior year, the business posted $0.80 earnings per share. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. As a group, analysts expect that Lincoln Electric will post 6.17 earnings per share for the current fiscal year.

The firm also recently declared a dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be paid a $0.51 dividend. The ex-dividend date is Wednesday, September 29th. This represents a dividend yield of 1.56%. Lincoln Electric’s dividend payout ratio is presently 49.16%.

In other Lincoln Electric news, EVP Jennifer I. Ansberry sold 6,860 shares of the business’s stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $134.03, for a total transaction of $919,445.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.35% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of LECO. Bessemer Group Inc. increased its stake in Lincoln Electric by 91,317.4% during the 2nd quarter. Bessemer Group Inc. now owns 457,087 shares of the industrial products company’s stock worth $60,204,000 after buying an additional 456,587 shares in the last quarter. State Street Corp boosted its holdings in shares of Lincoln Electric by 11.6% during the 2nd quarter. State Street Corp now owns 2,739,005 shares of the industrial products company’s stock worth $362,134,000 after purchasing an additional 284,050 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Lincoln Electric by 21.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,442,318 shares of the industrial products company’s stock worth $189,968,000 after purchasing an additional 250,399 shares during the last quarter. Balyasny Asset Management LLC acquired a new position in shares of Lincoln Electric during the 2nd quarter worth approximately $25,218,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Lincoln Electric by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,828,565 shares of the industrial products company’s stock worth $767,680,000 after purchasing an additional 149,773 shares during the last quarter. Institutional investors own 74.16% of the company’s stock.

About Lincoln Electric

Lincoln Electric Holdings, Inc engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.

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Analyst Recommendations for Lincoln Electric (NASDAQ:LECO)

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