ESAB (NYSE:ESAB) PT Raised to $128.00 at JPMorgan Chase & Co.

ESAB (NYSE:ESAB) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $120.00 to $128.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 21.93% from the company’s previous close.

Several other analysts have also issued reports on ESAB. Evercore ISI reduced their target price on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Oppenheimer began coverage on shares of ESAB in a research report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price objective for the company. Stifel Nicolaus dropped their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Bank of America boosted their target price on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.00.

ESAB Trading Down 1.3 %

ESAB opened at $104.98 on Monday. ESAB has a fifty-two week low of $61.43 and a fifty-two week high of $114.77. The firm has a market capitalization of $6.34 billion, a PE ratio of 27.59, a P/E/G ratio of 1.84 and a beta of 1.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.21. The company’s 50-day moving average is $100.03 and its 200 day moving average is $101.77.

ESAB (NYSE:ESAB) last posted its earnings results on Friday, August 2nd. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The company had revenue of $707.10 million for the quarter, compared to analyst estimates of $686.75 million. During the same quarter last year, the company earned $1.21 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, research analysts predict that ESAB will post 4.84 earnings per share for the current fiscal year.

Institutional Trading of ESAB

Several hedge funds have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its position in shares of ESAB by 57.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock valued at $36,000 after purchasing an additional 154 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of ESAB by 4.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 25,817 shares of the company’s stock valued at $2,236,000 after buying an additional 1,041 shares during the period. Bank of Nova Scotia purchased a new stake in shares of ESAB in the fourth quarter worth about $1,239,000. Seven Eight Capital LP purchased a new stake in shares of ESAB in the fourth quarter worth about $820,000. Finally, Kapitalo Investimentos Ltda boosted its position in shares of ESAB by 63.3% in the fourth quarter. Kapitalo Investimentos Ltda now owns 1,275 shares of the company’s stock valued at $110,000 after acquiring an additional 494 shares during the period. 91.13% of the stock is currently owned by institutional investors.

About ESAB

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.