Lincoln Electric Holdings, Inc. (NASDAQ:LECO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 research analysts have also recently weighed in on LECO. ValuEngine cut Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Lincoln Electric Holdings in a report on Monday, October 30th. Stifel Nicolaus lowered their target price on Lincoln Electric Holdings from $100.00 to $92.00 and set a “hold” rating for the company in a report on Monday, October 30th. KeyCorp reiterated a “hold” rating on shares of Lincoln Electric Holdings in a report on Friday, August 25th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Lincoln Electric Holdings in a report on Monday, October 30th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $96.43.
Lincoln Electric Holdings (NASDAQ LECO) opened at $86.34 on Wednesday. Lincoln Electric Holdings has a 1-year low of $71.62 and a 1-year high of $99.59. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $5,701.68, a price-to-earnings ratio of 24.15, a P/E/G ratio of 2.20 and a beta of 1.09.
Lincoln Electric Holdings (NASDAQ:LECO) last posted its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analysts’ expectations of $658.48 million. During the same quarter in the previous year, the firm earned $0.89 EPS. Lincoln Electric Holdings’s revenue was up 17.9% compared to the same quarter last year. equities analysts expect that Lincoln Electric Holdings will post 3.76 earnings per share for the current year.
In related news, VP Michele R. Kuhrt sold 3,080 shares of the company’s stock in a transaction on Monday, September 11th. The stock was 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 in the company, valued at approximately $1,279,458.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.27% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlueMountain Capital Management LLC purchased a new stake in shares of Lincoln Electric Holdings during the 2nd quarter worth $179,000. Global X Management Co. LLC increased its position in Lincoln Electric Holdings by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock valued at $193,000 after buying an additional 1,441 shares in the last quarter. Puzo Michael J acquired a new position in Lincoln Electric Holdings during the 2nd quarter valued at about $203,000. CIBC Asset Management Inc acquired a new position in Lincoln Electric Holdings during the 2nd quarter valued at about $204,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Lincoln Electric Holdings during the 2nd quarter valued at about $219,000. Hedge funds and other institutional investors own 62.32% of the company’s stock.
About Lincoln Electric Holdings
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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