Lincoln Electric (NASDAQ:LECO) Shares Gap Up on Better-Than-Expected Earnings

Lincoln Electric Holdings, Inc. (NASDAQ:LECO)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $194.00, but opened at $217.87. Lincoln Electric shares last traded at $219.21, with a volume of 112,316 shares.

The industrial products company reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.54. Lincoln Electric had a net margin of 11.93% and a return on equity of 40.03%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LECO shares. KeyCorp upped their price objective on Lincoln Electric from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Stifel Nicolaus cut their price objective on Lincoln Electric from $216.00 to $211.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, StockNews.com upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Lincoln Electric presently has an average rating of “Moderate Buy” and an average target price of $229.50.

Institutional Investors Weigh In On Lincoln Electric

Several hedge funds have recently modified their holdings of LECO. Mizuho Bank Ltd. purchased a new stake in Lincoln Electric during the 4th quarter worth $30,000. Jones Financial Companies Lllp boosted its holdings in Lincoln Electric by 255.1% in the fourth quarter. Jones Financial Companies Lllp now owns 174 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Lincoln Electric by 54.1% during the 4th quarter. V Square Quantitative Management LLC now owns 299 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 105 shares in the last quarter. Blue Trust Inc. increased its holdings in Lincoln Electric by 308.5% during the 3rd quarter. Blue Trust Inc. now owns 335 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 253 shares during the last quarter. Finally, HM Payson & Co. purchased a new position in shares of Lincoln Electric during the 3rd quarter valued at approximately $65,000. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln Electric Price Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 1.85 and a quick ratio of 1.20. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 1.40 and a beta of 1.18. The business’s 50-day moving average price is $194.32 and its two-hundred day moving average price is $195.69.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.