ESAB (NYSE:ESAB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

ESAB (NYSE:ESAB) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $133.00 to $140.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 14.32% from the company’s previous close.

Other analysts have also issued research reports about the company. Jefferies Financial Group started coverage on ESAB in a research note on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective on the stock. Evercore ISI upgraded ESAB from an “underperform” rating to an “inline” rating and dropped their price target for the company from $122.00 to $120.00 in a research note on Monday, February 24th. Finally, Stifel Nicolaus reduced their price objective on shares of ESAB from $131.00 to $125.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, ESAB currently has an average rating of “Moderate Buy” and a consensus target price of $134.14.

ESAB Price Performance

NYSE:ESAB opened at $122.46 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. The stock’s 50-day simple moving average is $122.56 and its 200 day simple moving average is $118.52. The company has a market cap of $7.41 billion, a P/E ratio of 28.35, a P/E/G ratio of 2.01 and a beta of 1.36. ESAB has a 52-week low of $88.54 and a 52-week high of $135.97.

ESAB (NYSE:ESAB) last released its earnings results on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.13. The business had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. As a group, sell-side analysts forecast that ESAB will post 5.16 EPS for the current fiscal year.

Institutional Trading of ESAB

A number of hedge funds have recently modified their holdings of ESAB. Atria Investments Inc raised its stake in ESAB by 41.5% in the 3rd quarter. Atria Investments Inc now owns 7,132 shares of the company’s stock worth $758,000 after purchasing an additional 2,093 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in ESAB in the 3rd quarter worth about $278,000. Victory Capital Management Inc. raised its stake in ESAB by 7.7% in the 3rd quarter. Victory Capital Management Inc. now owns 27,878 shares of the company’s stock worth $2,964,000 after purchasing an additional 1,996 shares in the last quarter. KBC Group NV raised its stake in ESAB by 20.7% in the 3rd quarter. KBC Group NV now owns 1,531 shares of the company’s stock worth $163,000 after purchasing an additional 263 shares in the last quarter. Finally, Quest Partners LLC raised its stake in ESAB by 12,140.0% in the 3rd quarter. Quest Partners LLC now owns 612 shares of the company’s stock worth $65,000 after purchasing an additional 607 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

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.