ESAB Corporation (NYSE:ESAB) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of ESAB Corporation (NYSE:ESAB) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat Ratings 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 twelve-month price target among analysts that have updated their coverage on the stock in the last year is $145.25.

A number of research firms have commented on ESAB. Stifel Nicolaus lifted 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. JPMorgan Chase & Co. boosted 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. Oppenheimer raised 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. Weiss Ratings lowered shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Finally, Roth Mkm reissued a “buy” rating and set a $146.00 price objective (down from $150.00) on shares of ESAB in a report on Tuesday, February 3rd.

ESAB Stock Down 4.2%

NYSE:ESAB opened at $94.17 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.17 and a current ratio of 1.90. The firm has a market cap of $5.72 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.74 and a beta of 1.23. ESAB has a fifty-two week low of $93.69 and a fifty-two week high of $137.42. The firm has a 50-day simple moving average of $119.38 and a two-hundred day simple moving average of $115.81.

ESAB (NYSE:ESAB) last issued its earnings results on Friday, February 20th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The firm had revenue of $687.00 million for the quarter, compared to the consensus estimate of $687.80 million. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 earnings per share. Analysts predict that ESAB will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Thursday, April 2nd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, April 2nd. ESAB’s payout ratio is 10.81%.

Insiders Place Their Bets

In other ESAB news, CEO Shyam Kambeyanda sold 59,404 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were 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 in the company, valued at approximately $12,362,164.56. The trade was a 37.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of ESAB

A number of hedge funds have recently bought and sold shares of ESAB. T. Rowe Price Investment Management Inc. lifted its holdings in ESAB by 0.6% in 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 acquiring an additional 45,841 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of ESAB by 11.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company’s stock valued at $653,864,000 after purchasing an additional 613,327 shares during the period. Invesco Ltd. increased its position in shares of ESAB by 1.6% during the 2nd quarter. Invesco Ltd. now owns 2,123,958 shares of the company’s stock valued at $256,043,000 after purchasing an additional 33,015 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of ESAB by 5.9% in the 2nd quarter. Champlain Investment Partners LLC now owns 2,043,843 shares of the company’s stock worth $246,385,000 after purchasing an additional 114,744 shares during the period. Finally, Durable Capital Partners LP lifted its stake in shares of ESAB by 40.5% in the 3rd quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock worth $217,430,000 after purchasing an additional 560,678 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

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.