Lincoln Electric Holdings, Inc. (NASDAQ:LECO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, November 1st.
According to Zacks, “Lincoln Electric’s top and bottom-line both improved on a year-over-year basis. While revenues beat the Zacks Consensus Estimate, earnings came in line. The company’s end markets continue to improve. Focus on commercializing innovative products, relatively stable pricing environment and cost-cutting initiatives will drive growth. It will also benefit from consistent investment in welding automation. Further, the acquisition of Air Liquide will enhance 2020 Vision and Strategy and enables Lincoln to build its global footprint. It will also be accretive to earnings. The stock has underperformed the industry, year-to-date. Raw material inflation will impact margins in fourth-quarter 2017 as well as in 2018. A stronger U.S. dollar will continue to affect the company’s exports. “
Several other equities analysts also recently weighed in on LECO. ValuEngine downgraded shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. KeyCorp reaffirmed a “hold” rating on shares of Lincoln Electric Holdings in a report on Friday, August 25th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Lincoln Electric Holdings in a report on Monday, October 30th. FBR & Co reissued a “buy” rating on shares of Lincoln Electric Holdings in a report on Monday, August 21st. Finally, Stifel Nicolaus lowered their target price on shares of Lincoln Electric Holdings from $100.00 to $92.00 and set a “hold” rating on the stock in a report on Monday, October 30th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Lincoln Electric Holdings currently has an average rating of “Hold” and an average price target of $96.43.
Shares of Lincoln Electric Holdings (NASDAQ:LECO) traded up $0.42 during midday trading on Wednesday, reaching $88.89. 180,294 shares of the company traded hands, compared to its average volume of 375,274. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.55 and a quick ratio of 1.83. The company has a market capitalization of $5,820.00, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09. Lincoln Electric Holdings has a 12 month low of $71.62 and a 12 month high of $99.59.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its earnings results on Friday, October 27th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.01). Lincoln Electric Holdings had a net margin of 11.34% and a return on equity of 28.97%. The business had revenue of $669.50 million for the quarter, compared to the consensus estimate of $658.48 million. During the same quarter last year, the firm posted $0.89 earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. analysts predict that Lincoln Electric Holdings will post 3.76 EPS for the current fiscal year.
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In other Lincoln Electric Holdings news, VP Michele R. Kuhrt sold 3,080 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $88.55, for a total transaction of $272,734.00. Following the completion of the sale, the vice president now directly owns 14,449 shares of the company’s stock, valued at $1,279,458.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.27% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in LECO. Koch Industries Inc. acquired a new position in Lincoln Electric Holdings in the 2nd quarter worth approximately $990,000. Janus Henderson Group PLC acquired a new position in Lincoln Electric Holdings in the 2nd quarter worth approximately $89,024,000. Prudential Financial Inc. increased its holdings in Lincoln Electric Holdings by 584.5% in the 3rd quarter. Prudential Financial Inc. now owns 691,029 shares of the industrial products company’s stock worth $63,353,000 after buying an additional 590,070 shares during the period. Principal Financial Group Inc. increased its holdings in Lincoln Electric Holdings by 91.2% in the 2nd quarter. Principal Financial Group Inc. now owns 843,705 shares of the industrial products company’s stock worth $77,697,000 after buying an additional 402,372 shares during the period. Finally, Lodge Hill Capital LLC acquired a new position in Lincoln Electric Holdings in the 2nd quarter worth approximately $34,994,000. 62.53% of the stock is owned by hedge funds and other institutional investors.
Lincoln Electric Holdings Company Profile
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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