ESAB Corporation (NYSE:ESAB) Receives Consensus Rating of “Moderate Buy” from Analysts

ESAB Corporation (NYSE:ESAB) has been assigned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $145.25.

A number of brokerages recently weighed in on ESAB. Stifel Nicolaus upped their price target on shares of ESAB from $144.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Weiss Ratings lowered ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Oppenheimer boosted their price objective on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. upped their target price on ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Wall Street Zen upgraded ESAB from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th.

Insider Activity

In other news, CEO Shyam Kambeyanda sold 59,404 shares of ESAB stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the sale, the chief executive officer owned 99,864 shares in the company, valued at $12,362,164.56. This trade represents a 37.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its stake in ESAB by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company’s stock worth $894,457,000 after buying an additional 45,841 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in ESAB in the 4th quarter valued at about $322,000. Vident Advisory LLC boosted its position in ESAB by 132.4% in the 4th quarter. Vident Advisory LLC now owns 4,879 shares of the company’s stock valued at $545,000 after buying an additional 2,780 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of ESAB by 2.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 8,335 shares of the company’s stock valued at $931,000 after acquiring an additional 182 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of ESAB by 118.0% during the fourth quarter. NewEdge Advisors LLC now owns 5,363 shares of the company’s stock valued at $599,000 after acquiring an additional 2,903 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Stock Down 5.5%

ESAB stock opened at $97.89 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.17. The company’s 50 day simple moving average is $121.31 and its 200-day simple moving average is $116.46. ESAB has a 12 month low of $97.54 and a 12 month high of $137.42. The firm has a market capitalization of $5.94 billion, a PE ratio of 26.46, a P/E/G ratio of 1.81 and a beta of 1.23.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Friday, February 20th. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The company had revenue of $687.00 million during the quarter, compared to analysts’ expectations of $687.80 million. During the same period in the previous year, the firm posted $1.28 earnings per share. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts expect that ESAB will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Thursday, April 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.40 annualized dividend and a yield of 0.4%. ESAB’s dividend payout ratio (DPR) is 10.81%.

ESAB Company Profile

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.