ESAB (NYSE:ESAB) Raised to “Buy” at Wall Street Zen

ESAB (NYSE:ESAB) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other brokerages have also commented on ESAB. Oppenheimer boosted their target price on ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Roth Mkm reissued a “buy” rating and issued a $146.00 price objective (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. Weiss Ratings downgraded ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. JPMorgan Chase & Co. upped their target price on ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Stifel Nicolaus increased their target price on ESAB from $144.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ESAB has an average rating of “Moderate Buy” and an average target price of $145.25.

ESAB Trading Down 4.8%

NYSE:ESAB opened at $107.98 on Friday. ESAB has a 12 month low of $100.17 and a 12 month high of $137.42. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 1.99 and a beta of 1.23. The firm has a fifty day simple moving average of $122.06 and a two-hundred day simple moving average of $116.84.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Friday, February 20th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.01. The firm had revenue of $720.99 million for the quarter, compared to analyst estimates of $687.80 million. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 earnings per share. Analysts expect that ESAB will post 5.16 EPS for the current fiscal year.

Insider Transactions at ESAB

In other ESAB news, CEO Shyam Kambeyanda sold 59,404 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the completion of the sale, the chief executive officer directly owned 99,864 shares of the company’s stock, valued at approximately $12,362,164.56. The trade was a 37.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. boosted its position in shares of ESAB by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company’s stock valued at $894,457,000 after buying an additional 45,841 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in ESAB in the 4th quarter valued at $322,000. Vident Advisory LLC raised its position in ESAB by 132.4% in the 4th quarter. Vident Advisory LLC now owns 4,879 shares of the company’s stock valued at $545,000 after buying an additional 2,780 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in ESAB by 2.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 8,335 shares of the company’s stock valued at $931,000 after acquiring an additional 182 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in ESAB by 118.0% during the 4th quarter. NewEdge Advisors LLC now owns 5,363 shares of the company’s stock worth $599,000 after acquiring an additional 2,903 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

ESAB Company Profile

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.