ESAB Co. (NYSE:ESAB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

ESAB Co. (NYSE:ESAB) has received an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $99.38.

Several equities research analysts have weighed in on ESAB shares. Oppenheimer started coverage on ESAB in a report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price target for the company. Stifel Nicolaus dropped their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th.

ESAB Trading Down 1.0 %

NYSE ESAB opened at $98.94 on Tuesday. ESAB has a 52 week low of $61.43 and a 52 week high of $114.77. The company has a 50 day moving average price of $97.56 and a 200 day moving average price of $99.05. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.59. The firm has a market cap of $5.98 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $690.00 million for the quarter, compared to the consensus estimate of $653.93 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 earnings per share. As a group, sell-side analysts forecast that ESAB will post 4.9 EPS for the current fiscal year.

ESAB Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESAB. Whittier Trust Co. raised its stake in shares of ESAB by 302.6% during the 1st quarter. Whittier Trust Co. now owns 314 shares of the company’s stock valued at $35,000 after buying an additional 236 shares during the last quarter. ORG Partners LLC purchased a new position in ESAB during the first quarter valued at approximately $35,000. Nomura Asset Management Co. Ltd. lifted its holdings in ESAB by 57.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock valued at $36,000 after acquiring an additional 154 shares during the period. Johnson Financial Group Inc. purchased a new stake in ESAB in the 4th quarter worth approximately $39,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of ESAB during the 2nd quarter worth approximately $92,000. 91.13% of the stock is currently owned by institutional investors and hedge funds.

About ESAB

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.