Zacks Investment Research upgraded shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $108.00 price objective on the industrial products company’s stock.
According to Zacks, “Lincoln Electric will benefit from focus on customers and execution of its 2020 vision. The company’s focus on investment in long-term, profitable growth, with its broad range of product launches and strategic acquisitions, will also aid growth. It will also gain from consistent focus on cost reduction and strong cash flow generation. In addition, Lincoln Electric's strong balance sheet position and share repurchases will drive its performance. Lincoln Electric also has a positive record of earnings surprises in the last few quarters. Driven by these positives, the stock outperformed the broader industry in the past one year. However, the company's results will be hurt by increase in expenses, stronger U.S. dollar and weakness in industrial production. Ongoing declines in the energy and heavy fabrication sectors also remain headwinds.”
A number of other research analysts have also weighed in on the stock. Deutsche Bank AG decreased their price target on shares of Lincoln Electric Holdings from $100.00 to $90.00 and set a hold rating on the stock in a research note on Friday, April 28th. Barclays PLC reaffirmed an equal weight rating and issued a $82.00 price target (up from $75.00) on shares of Lincoln Electric Holdings in a research note on Saturday, April 22nd. Stifel Nicolaus reaffirmed a hold rating and issued a $88.00 price target (up from $86.00) on shares of Lincoln Electric Holdings in a research note on Saturday, April 22nd. Finally, Royal Bank Of Canada reaffirmed a hold rating and issued a $78.00 price target on shares of Lincoln Electric Holdings in a research note on Monday, April 17th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $82.57.
Lincoln Electric Holdings (NASDAQ LECO) traded down 2.07% during midday trading on Tuesday, reaching $94.37. The company’s stock had a trading volume of 153,496 shares. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 31.59 and a beta of 0.91. The stock’s 50 day moving average price is $91.15 and its 200-day moving average price is $85.48. Lincoln Electric Holdings has a one year low of $56.02 and a one year high of $97.97.
Lincoln Electric Holdings (NASDAQ:LECO) last issued its quarterly earnings results on Tuesday, April 18th. The industrial products company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.09. The firm had revenue of $580.90 million for the quarter, compared to analyst estimates of $568.31 million. Lincoln Electric Holdings had a net margin of 8.70% and a return on equity of 30.17%. Lincoln Electric Holdings’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.76 EPS. On average, analysts forecast that Lincoln Electric Holdings will post $3.67 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 1.45%. Lincoln Electric Holdings’s payout ratio is 46.82%.
In other Lincoln Electric Holdings news, Director G Russell Lincoln sold 22,500 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $88.87, for a total value of $1,999,575.00. Following the completion of the sale, the director now owns 248,032 shares in the company, valued at approximately $22,042,603.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathryn Jo Lincoln sold 4,290 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $95.43, for a total transaction of $409,394.70. Following the completion of the sale, the director now owns 45,943 shares of the company’s stock, valued at approximately $4,384,340.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,930 shares of company stock valued at $5,529,686. 3.27% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Meadow Creek Investment Management LLC increased its stake in Lincoln Electric Holdings by 6.6% in the first quarter. Meadow Creek Investment Management LLC now owns 1,808 shares of the industrial products company’s stock worth $157,000 after buying an additional 112 shares during the last quarter. Park National Corp OH acquired a new stake in Lincoln Electric Holdings during the first quarter worth approximately $206,000. Neuburgh Advisers LLC increased its stake in Lincoln Electric Holdings by 6.6% in the first quarter. Neuburgh Advisers LLC now owns 2,486 shares of the industrial products company’s stock worth $216,000 after buying an additional 154 shares during the last quarter. Commerce Bank acquired a new stake in Lincoln Electric Holdings during the first quarter worth approximately $219,000. Finally, Tyers Asset Management LLC acquired a new stake in Lincoln Electric Holdings during the fourth quarter worth approximately $228,000. Institutional investors own 64.56% 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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