Loop Capital Cuts Lincoln Electric (NASDAQ:LECO) Price Target to $265.00

Lincoln Electric (NASDAQ:LECO) had its price objective reduced by research analysts at Loop Capital from $285.00 to $265.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Loop Capital’s price objective would indicate a potential upside of 30.33% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus dropped their target price on Lincoln Electric from $241.00 to $238.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Lincoln Electric in a report on Monday, April 29th. KeyCorp decreased their target price on shares of Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Robert W. Baird cut their price target on Lincoln Electric from $252.00 to $236.00 and set an “outperform” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $225.29.

Lincoln Electric Stock Performance

Shares of NASDAQ:LECO traded down $2.24 on Friday, reaching $203.33. 249,576 shares of the company’s stock were exchanged, compared to its average volume of 293,054. The business’s 50-day moving average is $238.37 and its two-hundred day moving average is $226.18. The company has a quick ratio of 1.49, a current ratio of 2.24 and a debt-to-equity ratio of 0.84. Lincoln Electric has a fifty-two week low of $164.00 and a fifty-two week high of $261.13. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 1.58 and a beta of 1.23.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, April 25th. The industrial products company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.08. The firm had revenue of $981.20 million for the quarter, compared to analysts’ expectations of $1.04 billion. Lincoln Electric had a net margin of 13.23% and a return on equity of 43.81%. Lincoln Electric’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company posted $2.13 earnings per share. As a group, equities research analysts forecast that Lincoln Electric will post 9.6 EPS for the current year.

Insider Buying and Selling

In other Lincoln Electric news, SVP Geoffrey P. Allman sold 3,306 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $252.33, for a total transaction of $834,202.98. Following the completion of the transaction, the senior vice president now directly owns 9,150 shares of the company’s stock, valued at approximately $2,308,819.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lincoln Electric

Large investors have recently made changes to their positions in the business. Hancock Whitney Corp raised its holdings in shares of Lincoln Electric by 0.3% in the 1st quarter. Hancock Whitney Corp now owns 93,748 shares of the industrial products company’s stock worth $23,947,000 after purchasing an additional 322 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Lincoln Electric during the 1st quarter valued at $385,000. Jane Street Group LLC lifted its position in shares of Lincoln Electric by 52.1% during the 1st quarter. Jane Street Group LLC now owns 26,764 shares of the industrial products company’s stock valued at $6,837,000 after acquiring an additional 9,164 shares during the last quarter. Vancity Investment Management Ltd boosted its stake in shares of Lincoln Electric by 14.3% during the 1st quarter. Vancity Investment Management Ltd now owns 3,777 shares of the industrial products company’s stock worth $964,000 after acquiring an additional 473 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Lincoln Electric in the 1st quarter worth $715,000. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.