ESAB (NYSE:ESAB) Given New $128.00 Price Target at JPMorgan Chase & Co.

ESAB (NYSE:ESAB) had its target price upped by JPMorgan Chase & Co. from $120.00 to $128.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on the company. 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. Bank of America increased their price target on ESAB from $115.00 to $130.00 and gave the company a buy rating in a research report on Monday, August 5th. Stifel Nicolaus lowered 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. Finally, Oppenheimer began coverage on shares of ESAB in a report on Thursday, June 20th. They issued an outperform rating and a $115.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $115.00.

ESAB Stock Performance

NYSE ESAB opened at $104.84 on Monday. 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 has a market cap of $6.33 billion, a P/E ratio of 27.74, a P/E/G ratio of 1.84 and a beta of 1.42. The stock has a 50-day moving average of $100.10 and a two-hundred day moving average of $101.81. ESAB has a 1-year low of $61.43 and a 1-year high of $114.77.

ESAB (NYSE:ESAB) last announced its quarterly earnings data 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. The firm had revenue of $707.10 million during the quarter, compared to analysts’ expectations of $686.75 million. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 earnings per share. As a group, analysts anticipate that ESAB will post 4.84 EPS for the current year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. ESAB’s dividend payout ratio is currently 8.38%.

Institutional Investors Weigh In On ESAB

Several hedge funds and other institutional investors have recently made changes to their positions in ESAB. Whittier Trust Co. raised its stake in ESAB by 302.6% during the 1st quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after acquiring an additional 236 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of ESAB in the 1st quarter valued at about $35,000. Nomura Asset Management Co. Ltd. boosted its position in shares of ESAB by 57.9% in the 4th 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 during the period. Hantz Financial Services Inc. acquired a new stake in shares of ESAB in the 2nd quarter valued at about $42,000. Finally, Ridgewood Investments LLC purchased a new position in ESAB during the 2nd quarter worth approximately $92,000. 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.