JPMorgan Chase & Co. Has Lowered Expectations for ESAB (NYSE:ESAB) Stock Price

ESAB (NYSE:ESAB) had its price objective cut by JPMorgan Chase & Co. from $135.00 to $133.00 in a research note published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on ESAB. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $102.00 to $122.00 in a research report on Wednesday, November 13th. Jefferies Financial Group began coverage on ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 price target on the stock. Loop Capital upped their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and set a $144.00 price target (up previously from $138.00) on shares of ESAB in a research report on Friday, November 8th. Finally, Stifel Nicolaus dropped their price target on ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $133.43.

ESAB Stock Down 0.0 %

ESAB stock opened at $120.07 on Friday. The stock’s fifty day simple moving average is $122.57 and its two-hundred day simple moving average is $115.61. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. ESAB has a 1-year low of $88.54 and a 1-year high of $135.97. The stock has a market cap of $7.26 billion, a P/E ratio of 28.12, a P/E/G ratio of 2.02 and a beta of 1.36.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The business had revenue of $633.20 million for the quarter, compared to analysts’ expectations of $636.43 million. Analysts expect that ESAB will post 4.92 EPS for the current year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a dividend of $0.08 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. ESAB’s dividend payout ratio (DPR) is 7.41%.

Institutional Trading of ESAB

A number of institutional investors have recently added to or reduced their stakes in the stock. Michels Family Financial LLC purchased a new stake in ESAB during the 4th quarter worth about $723,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in ESAB by 13.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 167,009 shares of the company’s stock worth $20,031,000 after purchasing an additional 20,430 shares in the last quarter. Vident Advisory LLC purchased a new stake in ESAB during the 4th quarter worth about $404,000. Teza Capital Management LLC bought a new position in ESAB in the 4th quarter worth about $671,000. Finally, State of Wyoming increased its stake in ESAB by 69.6% in the 4th quarter. State of Wyoming now owns 2,625 shares of the company’s stock worth $315,000 after acquiring an additional 1,077 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

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.