Lincoln Electric (NASDAQ:LECO) Rating Lowered to Hold at Wall Street Zen

Lincoln Electric (NASDAQ:LECO) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other analysts also recently issued reports on the company. DA Davidson assumed coverage on Lincoln Electric in a research note on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target for the company. Jefferies Financial Group reiterated a “hold” rating and set a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Barclays lifted their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Finally, Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research note on Friday, May 1st. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lincoln Electric has a consensus rating of “Hold” and a consensus price target of $299.38.

Lincoln Electric Stock Performance

LECO opened at $249.02 on Monday. Lincoln Electric has a 52-week low of $216.22 and a 52-week high of $310.00. The firm has a market capitalization of $13.64 billion, a PE ratio of 25.70, a PEG ratio of 1.51 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83. The business’s 50-day simple moving average is $260.76 and its 200 day simple moving average is $263.34.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 EPS. As a group, sell-side analysts expect that Lincoln Electric will post 10.84 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the transaction, the executive vice president owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.68% of the company’s stock.

Institutional Trading of Lincoln Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Elyxium Wealth LLC bought a new position in shares of Lincoln Electric in the 4th quarter valued at $27,000. Summit Securities Group LLC acquired a new position in Lincoln Electric in the 4th quarter worth about $46,000. Geneos Wealth Management Inc. increased its holdings in Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 255 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Lincoln Electric in the fourth quarter valued at about $64,000. Finally, United Community Bank bought a new position in Lincoln Electric in the fourth quarter valued at about $65,000. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.