ESAB (NYSE:ESAB) Given New $151.00 Price Target at Roth Capital

ESAB (NYSE:ESAB) had its target price boosted by investment analysts at Roth Capital from $142.00 to $151.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Capital’s price target would indicate a potential upside of 61.35% from the stock’s previous close.

Several other brokerages also recently commented on ESAB. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings downgraded shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Oppenheimer restated an “outperform” rating and issued a $140.00 price target on shares of ESAB in a research report on Tuesday, April 14th. JPMorgan Chase & Co. cut their target price on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Finally, Stifel Nicolaus set a $141.00 price target on ESAB in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.50.

ESAB Trading Down 3.6%

Shares of ESAB opened at $93.59 on Tuesday. The company has a current ratio of 2.97, a quick ratio of 2.26 and a debt-to-equity ratio of 0.91. The stock has a market cap of $5.70 billion, a PE ratio of 27.82, a PEG ratio of 1.70 and a beta of 1.17. ESAB has a 1 year low of $82.18 and a 1 year high of $137.42. The stock has a 50 day simple moving average of $94.86 and a 200-day simple moving average of $106.78.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). ESAB had a net margin of 7.11% and a return on equity of 15.04%. The company had revenue of $745.60 million during the quarter, compared to analyst estimates of $706.74 million. During the same period in the prior year, the firm earned $1.25 EPS. ESAB’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts predict that ESAB will post 5.82 EPS for the current fiscal year.

Institutional Trading of ESAB

Several hedge funds have recently added to or reduced their stakes in ESAB. FNY Investment Advisers LLC acquired a new position in ESAB in the third quarter valued at about $30,000. Los Angeles Capital Management LLC bought a new stake in ESAB during the fourth quarter worth about $33,000. Northwestern Mutual Wealth Management Co. grew its stake in ESAB by 109.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after purchasing an additional 174 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of ESAB by 259.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of ESAB by 3,023.1% in the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after buying an additional 393 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

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.