Brokerages Set ESAB Corporation (NYSE:ESAB) Target Price at $142.13

ESAB Corporation (NYSE:ESAB) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $142.1250.

ESAB has been the subject of several recent research reports. Wall Street Zen cut ESAB from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. UBS Group upped their target price on ESAB from $147.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. reduced their target price on ESAB from $140.00 to $138.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Oppenheimer boosted their price target on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ESAB in a report on Monday, December 29th.

ESAB Price Performance

NYSE:ESAB opened at $120.96 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24. ESAB has a one year low of $100.17 and a one year high of $135.84. The company has a fifty day moving average price of $115.28 and a 200 day moving average price of $116.35. The stock has a market cap of $7.34 billion, a P/E ratio of 30.47, a PEG ratio of 2.09 and a beta of 1.24.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. The company had revenue of $727.85 million for the quarter, compared to analyst estimates of $663.57 million. ESAB had a net margin of 8.70% and a return on equity of 15.93%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. Analysts anticipate that ESAB will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, December 31st. ESAB’s payout ratio is presently 10.08%.

Hedge Funds Weigh In On ESAB

Hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in ESAB in the 3rd quarter valued at $30,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of ESAB by 109.4% in the 2nd 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. AlphaQuest LLC bought a new stake in shares of ESAB in the 3rd quarter worth about $58,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of ESAB during the 2nd quarter worth about $59,000. Finally, Farther Finance Advisors LLC lifted its holdings in ESAB by 60.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $75,000 after purchasing an additional 252 shares during the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

About ESAB

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.