ESAB (NYSE:ESAB) Stock Rating Lowered by Stifel Nicolaus

ESAB (NYSE:ESAB) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Monday, Marketbeat.com reports. They presently have a $130.00 price target on the stock, down from their previous price target of $138.00. Stifel Nicolaus’ price target would suggest a potential upside of 4.75% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Oppenheimer reissued an “outperform” rating and issued a $144.00 price target (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Evercore ISI downgraded ESAB from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. Loop Capital upped their price target on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, Bank of America upped their price target on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $124.14.

ESAB Trading Down 1.8 %

Shares of ESAB stock opened at $124.11 on Monday. ESAB has a 12-month low of $76.08 and a 12-month high of $135.97. The stock has a market cap of $7.50 billion, a P/E ratio of 29.07, a P/E/G ratio of 2.17 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $111.78 and its 200-day moving average is $103.73.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13. The business had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 EPS. Equities research analysts predict that ESAB will post 4.94 earnings per share for the current fiscal year.

Insider Activity at ESAB

In related news, CEO Shyam Kambeyanda sold 59,120 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the transaction, the chief executive officer now directly owns 53,902 shares of the company’s stock, valued at approximately $6,627,789.92. This trade represents a 52.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total transaction of $531,877.62. The disclosure for this sale can be found here. Insiders have sold a total of 68,418 shares of company stock worth $8,431,773 over the last quarter. Company insiders own 7.00% of the company’s stock.

Institutional Trading of ESAB

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of ESAB by 55.9% in the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares during the period. Hantz Financial Services Inc. purchased a new stake in shares of ESAB in the second quarter valued at about $42,000. Quest Partners LLC grew its holdings in shares of ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after purchasing an additional 607 shares during the period. Blue Trust Inc. grew its holdings in shares of ESAB by 629.8% in the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after purchasing an additional 529 shares during the period. Finally, Millburn Ridgefield Corp acquired a new position in ESAB in the third quarter valued at about $77,000. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Company Profile

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.