Lincoln Electric Holdings Inc. (LECO) Rating Increased to Hold at Zacks Investment Research
Lincoln Electric Holdings Inc. (NASDAQ:LECO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Lincoln Electric continues to invest in long-term, profitable growth with its broad range of product launches and strategic acquisitions. Further, operational excellence initiatives and interim cost control measures will also aid margins. However, persistent weakness in industrial production, commodity prices and slowing emerging market economies remain concerns for the company. Further, increase in R&D spending will impede its margin performance in the near term. Moreover, tough comparisons and a stronger dollar will hurt Lincoln Electric's results in the coming quarters.”
Several other analysts have also issued reports on the company. Barclays PLC upped their target price on Lincoln Electric Holdings from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 12th. Deutsche Bank AG began coverage on Lincoln Electric Holdings in a report on Tuesday, September 6th. They set a “hold” rating and a $70.00 target price on the stock. Wellington Shields lowered Lincoln Electric Holdings to a “hold” rating in a report on Wednesday, August 24th. TheStreet raised Lincoln Electric Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, August 17th. Finally, Wunderlich lowered their price target on Lincoln Electric Holdings from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Lincoln Electric Holdings presently has an average rating of “Hold” and an average target price of $66.50.
Lincoln Electric Holdings (NASDAQ:LECO) opened at 61.47 on Friday. Lincoln Electric Holdings has a 52-week low of $45.54 and a 52-week high of $65.33. The company has a market cap of $4.13 billion, a P/E ratio of 60.09 and a beta of 1.10. The company’s 50 day moving average price is $62.40 and its 200 day moving average price is $61.34.
Lincoln Electric Holdings (NASDAQ:LECO) last released its earnings results on Monday, July 25th. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. Lincoln Electric Holdings had a return on equity of 25.46% and a net margin of 3.11%. The business had revenue of $592.40 million for the quarter, compared to analyst estimates of $589.08 million. During the same quarter in the prior year, the company posted $0.95 earnings per share. Lincoln Electric Holdings’s revenue was down 10.9% on a year-over-year basis. Equities research analysts anticipate that Lincoln Electric Holdings will post $3.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Wednesday, September 28th. Lincoln Electric Holdings’s payout ratio is 119.63%.
Several institutional investors have recently bought and sold shares of the stock. State Street Corp increased its position in Lincoln Electric Holdings by 141.6% in the first quarter. State Street Corp now owns 4,503,670 shares of the company’s stock valued at $263,783,000 after buying an additional 2,639,676 shares during the last quarter. JPMorgan Chase & Co. increased its position in Lincoln Electric Holdings by 244.1% in the second quarter. JPMorgan Chase & Co. now owns 833,164 shares of the company’s stock valued at $49,223,000 after buying an additional 591,008 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in Lincoln Electric Holdings during the second quarter valued at approximately $21,926,000. Lodge Hill Capital LLC purchased a new position in Lincoln Electric Holdings during the second quarter valued at approximately $18,906,000. Finally, Thrivent Financial for Lutherans increased its position in Lincoln Electric Holdings by 1,147.4% in the second quarter. Thrivent Financial for Lutherans now owns 335,920 shares of the company’s stock valued at $19,846,000 after buying an additional 308,990 shares during the last quarter. 65.15% of the stock is currently owned by institutional investors.
About Lincoln Electric Holdings
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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