ESAB (NYSE:ESAB – Get Rating) had its price target raised by equities researchers at Stifel Nicolaus from $55.00 to $60.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price target would indicate a potential upside of 10.11% from the company's previous close.

ESAB Stock Performance

ESAB stock opened at $54.49 on Friday. The company's 50-day moving average is $48.26 and its 200-day moving average is $42.57. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.62 and a quick ratio of 0.89. ESAB has a 1 year low of $32.12 and a 1 year high of $58.08.

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ESAB (NYSE:ESAB – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.10. The company had revenue of $620.27 million for the quarter, compared to the consensus estimate of $574.98 million. Equities analysts anticipate that ESAB will post 4.1 EPS for the current year.

Insider Buying and Selling

In other ESAB news, Director Christopher M. Hix sold 1,965 shares of the stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $47.55, for a total value of $93,435.75. Following the completion of the sale, the director now owns 34,200 shares in the company, valued at approximately $1,626,210. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Mitchell P. Rales acquired 500,000 shares of the firm's stock in a transaction on Wednesday, November 16th. The stock was purchased at an average price of $40.00 per share, for a total transaction of $20,000,000.00. Following the purchase, the director now owns 1,414,098 shares in the company, valued at approximately $56,563,920. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher M. Hix sold 1,965 shares of the stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $47.55, for a total transaction of $93,435.75. Following the completion of the sale, the director now owns 34,200 shares of the company's stock, valued at approximately $1,626,210. The disclosure for this sale can be found here.

Institutional Investors Weigh In On ESAB

Several large investors have recently modified their holdings of ESAB. Price T Rowe Associates Inc. MD purchased a new stake in shares of ESAB during the 2nd quarter worth approximately $265,710,000. Cooke & Bieler LP bought a new position in ESAB in the 2nd quarter worth approximately $155,576,000. State Street Corp bought a new position in ESAB in the 2nd quarter worth approximately $54,191,000. FMR LLC bought a new position in ESAB in the 2nd quarter worth approximately $43,346,000. Finally, Principal Financial Group Inc. bought a new position in ESAB in the 2nd quarter worth approximately $37,754,000. Hedge funds and other institutional investors own 80.23% of the company's stock.

ESAB Company Profile

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ESAB Corporation engages in the formulation, development, manufacture, and supply of 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 comprising electrodes, nozzles, shields, and tips.

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