ESAB Co. (NYSE:ESAB) Receives Consensus Recommendation of “Hold” from Analysts

ESAB Co. (NYSE:ESAB) has been given an average rating of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $133.57.

Several analysts recently weighed in on the company. Stifel Nicolaus increased their price target on ESAB from $130.00 to $131.00 and gave the company a “hold” rating in a report on Friday, January 24th. Loop Capital boosted their target price on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and issued a $144.00 target price (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Evercore ISI lowered shares of ESAB from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th. Finally, Jefferies Financial Group started coverage on shares of ESAB in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price on the stock.

ESAB Stock Up 1.2 %

Shares of ESAB opened at $124.16 on Friday. The business’s 50 day moving average is $122.92 and its 200 day moving average is $114.34. ESAB has a 12-month low of $87.12 and a 12-month high of $135.97. The company has a market capitalization of $7.51 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58.

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 annualized dividend and a yield of 0.26%. ESAB’s dividend payout ratio (DPR) is 7.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in ESAB in the 2nd quarter worth approximately $192,000. Handelsbanken Fonder AB increased its stake in shares of ESAB by 18.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 14,400 shares of the company’s stock valued at $1,531,000 after acquiring an additional 2,200 shares during the last quarter. GAMMA Investing LLC raised its holdings in ESAB by 55.9% during the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the period. Vontobel Holding Ltd. grew its stake in ESAB by 2.8% in the third quarter. Vontobel Holding Ltd. now owns 17,846 shares of the company’s stock valued at $1,897,000 after purchasing an additional 487 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its position in shares of ESAB by 3.6% in the third quarter. Hunter Perkins Capital Management LLC now owns 11,220 shares of the company’s stock valued at $1,193,000 after buying an additional 395 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.

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.