ESAB Co. (NYSE:ESAB) Receives $98.63 Average Target Price from Analysts

Shares of ESAB Co. (NYSE:ESAB) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $98.63.

Several analysts recently commented on the company. JPMorgan Chase & Co. raised ESAB from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $111.00 to $125.00 in a report on Monday, March 18th. Oppenheimer initiated coverage on shares of ESAB in a research report on Thursday, June 20th. They set an “outperform” rating and a $115.00 price target for the company. Finally, Evercore ISI raised their price objective on shares of ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a report on Tuesday, March 5th.

ESAB Price Performance

NYSE ESAB opened at $92.60 on Friday. ESAB has a one year low of $61.43 and a one year high of $114.77. The stock has a 50-day moving average of $101.37 and a 200 day moving average of $97.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.65. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 1.64 and a beta of 1.43.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Wednesday, May 1st. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.09. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The firm had revenue of $690.00 million during the quarter, compared to analysts’ expectations of $653.93 million. During the same period in the previous year, the company earned $1.04 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts forecast that ESAB will post 4.91 EPS for the current year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Friday, June 28th. This is a positive change from ESAB’s previous quarterly dividend of $0.06. ESAB’s dividend payout ratio is presently 8.38%.

Institutional Investors Weigh In On ESAB

Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in ESAB by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock worth $710,316,000 after purchasing an additional 653,377 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in ESAB by 6,624.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 379,078 shares of the company’s stock worth $32,836,000 after acquiring an additional 373,441 shares during the last quarter. Champlain Investment Partners LLC bought a new position in shares of ESAB during the 1st quarter valued at approximately $33,811,000. International Assets Investment Management LLC purchased a new position in shares of ESAB in the fourth quarter valued at $11,502,000. Finally, Acadian Asset Management LLC increased its position in ESAB by 2,277.5% in the first quarter. Acadian Asset Management LLC now owns 93,770 shares of the company’s stock worth $10,359,000 after purchasing an additional 89,826 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.