Lincoln Electric (NASDAQ:LECO) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Lincoln Electric (NASDAQ:LECO) from a buy rating to a hold rating in a report issued on Monday morning.

Several other analysts also recently commented on the company. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research note on Friday, May 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Morgan Stanley increased their price target on Lincoln Electric from $250.00 to $253.00 and gave the stock an “underweight” rating in a report on Friday. Barclays raised their price objective on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, DA Davidson initiated coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lincoln Electric currently has a consensus rating of “Hold” and a consensus price target of $299.38.

Lincoln Electric Stock Performance

NASDAQ:LECO opened at $245.44 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76. Lincoln Electric has a twelve month low of $216.22 and a twelve month high of $310.00. The company has a fifty day moving average of $261.10 and a 200-day moving average of $263.27. The firm has a market capitalization of $13.45 billion, a P/E ratio of 25.33, a P/E/G ratio of 1.55 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the company posted $2.16 earnings per share. The business’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Lincoln Electric will post 10.84 EPS for the current year.

Insider Activity at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the sale, the executive vice president owned 9,319 shares in the company, valued at $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lincoln Electric

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its stake in shares of Lincoln Electric by 8.6% in the 1st quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock worth $468,000 after buying an additional 197 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Lincoln Electric by 553.4% during the first quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock valued at $215,000 after acquiring an additional 963 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Lincoln Electric by 8.9% during the first quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock worth $68,582,000 after acquiring an additional 29,505 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Lincoln Electric by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company’s stock worth $26,017,000 after acquiring an additional 10,961 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 255 shares during the last quarter. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Company Profile

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.