JPMorgan Chase & Co. Forecasts Strong Price Appreciation for ESAB (NYSE:ESAB) Stock

ESAB (NYSE:ESAB) had its price target hoisted by analysts at JPMorgan Chase & Co. from $133.00 to $140.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 14.32% from the stock’s current price.

A number of other research firms also recently weighed in on ESAB. Evercore ISI raised ESAB from an “underperform” rating to an “inline” rating and cut their price target for the company from $122.00 to $120.00 in a research note on Monday, February 24th. Jefferies Financial Group assumed coverage on ESAB in a research note on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target on the stock. Finally, Stifel Nicolaus cut their price target on ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $134.14.

ESAB Stock Up 2.2 %

NYSE:ESAB opened at $122.46 on Tuesday. The stock’s fifty day moving average price is $122.56 and its two-hundred day moving average price is $118.52. ESAB has a 52-week low of $88.54 and a 52-week high of $135.97. 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 company has a market cap of $7.41 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 2.01 and a beta of 1.36.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The firm had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. On average, analysts anticipate that ESAB will post 5.16 EPS for the current year.

Institutional Trading of ESAB

Several hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of ESAB by 3.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,538,081 shares of the company’s stock valued at $904,118,000 after purchasing an additional 225,345 shares during the period. Vanguard Group Inc. raised its stake in shares of ESAB by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,546,104 shares of the company’s stock valued at $665,200,000 after purchasing an additional 20,741 shares during the period. JPMorgan Chase & Co. raised its stake in shares of ESAB by 15.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,202,568 shares of the company’s stock valued at $264,176,000 after purchasing an additional 302,453 shares during the period. FMR LLC raised its stake in shares of ESAB by 6.2% in the 3rd quarter. FMR LLC now owns 2,196,522 shares of the company’s stock valued at $233,512,000 after purchasing an additional 127,714 shares during the period. Finally, Invesco Ltd. raised its stake in shares of ESAB by 17.9% in the 4th quarter. Invesco Ltd. now owns 2,097,624 shares of the company’s stock valued at $251,589,000 after purchasing an additional 318,018 shares during the period. 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.