Lincoln Electric (NASDAQ:LECO) Hits New 52-Week High – Here’s What Happened

Lincoln Electric Holdings, Inc. (NASDAQ:LECO)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $272.65 and last traded at $271.22, with a volume of 355948 shares. The stock had previously closed at $267.62.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LECO shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln Electric in a research report on Thursday, January 22nd. Stifel Nicolaus lifted their price target on shares of Lincoln Electric from $252.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, January 23rd. Roth Mkm reissued a “buy” rating and issued a $297.00 price objective (up from $285.00) on shares of Lincoln Electric in a research report on Tuesday. Zacks Research lowered Lincoln Electric from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Barclays increased their price target on Lincoln Electric from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $255.00.

Lincoln Electric Price Performance

The company has a quick ratio of 1.07, a current ratio of 1.71 and a debt-to-equity ratio of 0.81. The company has a 50 day simple moving average of $251.29 and a 200-day simple moving average of $241.31. The stock has a market cap of $16.45 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 1.78 and a beta of 1.26.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Elyxium Wealth LLC acquired a new stake in Lincoln Electric in the 4th quarter valued at approximately $27,000. Quent Capital LLC acquired a new position in shares of Lincoln Electric during the third quarter valued at $27,000. Frazier Financial Advisors LLC raised its stake in shares of Lincoln Electric by 3,700.0% during the third quarter. Frazier Financial Advisors LLC now owns 114 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 111 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Lincoln Electric in the third quarter worth about $31,000. Finally, Vermillion & White Wealth Management Group LLC grew its position in Lincoln Electric by 82.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 155 shares of the industrial products company’s stock valued at $32,000 after buying an additional 70 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.