ESAB’s (ESAB) Outperform Rating Reaffirmed at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of ESAB (NYSE:ESAB) in a research note released on Friday morning,Benzinga reports. They currently have a $144.00 target price on the stock, up from their previous target price of $138.00.

Several other research analysts also recently commented on ESAB. Bank of America boosted their price objective on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Stifel Nicolaus dropped their price objective on ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Evercore ISI reduced their price objective on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Loop Capital increased their target price on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.86.

ESAB Stock Performance

Shares of ESAB traded down $1.16 during trading hours on Friday, hitting $131.22. The company had a trading volume of 258,318 shares, compared to its average volume of 314,505. The business has a fifty day moving average of $108.64 and a 200-day moving average of $102.97. 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 firm has a market cap of $7.93 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.33 and a beta of 1.37. ESAB has a 12 month low of $75.24 and a 12 month high of $135.97.

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

ESAB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date was Friday, September 27th. ESAB’s dividend payout ratio (DPR) is currently 7.49%.

Insider Transactions at ESAB

In other news, CEO Shyam Kambeyanda sold 59,120 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was 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 in the company, valued at $6,627,789.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total value of $7,269,395.20. Following the transaction, the chief executive officer now directly owns 53,902 shares of the company’s stock, valued at approximately $6,627,789.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rhonda L. Jordan sold 4,254 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was 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. Over the last 90 days, insiders have sold 68,418 shares of company stock worth $8,431,773. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On ESAB

A number of hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC raised its holdings in ESAB by 12,140.0% during the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock worth $65,000 after buying an additional 607 shares during the last quarter. Seizert Capital Partners LLC acquired a new stake in shares of ESAB in the 3rd quarter worth about $1,817,000. Royce & Associates LP lifted its position in ESAB by 8.6% in the 3rd quarter. Royce & Associates LP now owns 749,752 shares of the company’s stock valued at $79,706,000 after acquiring an additional 59,447 shares in the last quarter. KBC Group NV lifted its position in ESAB by 20.7% in the 3rd quarter. KBC Group NV now owns 1,531 shares of the company’s stock valued at $163,000 after acquiring an additional 263 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in ESAB by 7.7% during the third quarter. Victory Capital Management Inc. now owns 27,878 shares of the company’s stock worth $2,964,000 after buying an additional 1,996 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

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.