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Research analysts at Robert W. Baird began coverage on shares of ESAB (NYSE:ESAB - Get Rating) in a note issued to investors on Monday, The Fly reports. The firm set an "outperform" rating and a $53.00 price target on the stock. Robert W. Baird's target price would suggest a potential upside of 28.36% from the company's previous close.
A number of other analysts have also recently issued reports on ESAB. Stifel Nicolaus lowered their target price on ESAB from $56.00 to $45.00 in a research note on Monday, July 18th. JPMorgan Chase & Co. started coverage on ESAB in a research note on Thursday, August 18th. They set an "overweight" rating and a $55.00 target price for the company.ESAB Stock Performance
ESAB stock traded up $0.39 during trading hours on Monday, reaching $41.29. 7,002 shares of the company's stock traded hands, compared to its average volume of 439,256. The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. ESAB has a fifty-two week low of $38.25 and a fifty-two week high of $58.08. The business's 50 day moving average price is $42.33.
ESAB (NYSE:ESAB - Get Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $1.08 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.09. The company had revenue of $661.18 million during the quarter, compared to the consensus estimate of $629.40 million. Equities analysts anticipate that ESAB will post 4 earnings per share for the current year. Institutional Trading of ESAB
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Stock Yards Bank & Trust Co. acquired a new position in shares of ESAB during the 2nd quarter worth about $218,000. Captrust Financial Advisors acquired a new position in shares of ESAB during the 2nd quarter worth about $165,000. Legal & General Group Plc acquired a new position in shares of ESAB during the 2nd quarter worth about $2,848,000. ExodusPoint Capital Management LP acquired a new stake in ESAB in the 2nd quarter valued at about $551,000. Finally, Goldman Sachs Group Inc. acquired a new stake in ESAB in the 2nd quarter valued at about $10,071,000. 82.46% of the stock is currently owned by institutional investors and hedge funds. ESAB Company Profile (Get Rating)
ESAB Corporation formulates, develops, manufactures, and supplies consumable products and equipment for use in cutting, joining, and automated welding, as well as 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, including electrodes, nozzles, shields, and tips.Featured StoriesGet a free copy of the StockNews.com research report on ESAB (ESAB)3 Downgraded Must-Have Stocks To Put On Your WatchlistThis Is What To Expect From The Q3 Earnings Reporting Season3 Biotech Stocks Gaining MomentumCan Electronic Arts Buck the Downturn in Videogaming? Dollar General is the Big Fish in Little Ponds Across the U.S.
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