ESAB Co. (NYSE:ESAB) Short Interest Update

by · The Cerbat Gem

ESAB Co. (NYSE:ESAB – Get Free Report) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 788,100 shares, a growth of 35.9% from the February 13th total of 580,000 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average trading volume of 260,500 shares, the days-to-cover ratio is presently 3.0 days.

ESAB Price Performance

Shares of ESAB stock traded up $4.30 during trading hours on Friday, hitting $120.21. The company’s stock had a trading volume of 450,974 shares, compared to its average volume of 276,561. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. ESAB has a 12-month low of $88.54 and a 12-month high of $135.97. The business has a 50 day moving average price of $122.43 and a two-hundred day moving average price of $118.18. The company has a market cap of $7.28 billion, a PE ratio of 27.83, a PEG ratio of 2.01 and a beta of 1.36.

ESAB (NYSE:ESAB – Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.13. The business had revenue of $633.20 million during 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%. Analysts expect that ESAB will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. ESAB’s dividend payout ratio is currently 7.41%.

Analysts Set New Price Targets

ESAB has been the subject of several analyst reports. Jefferies Financial Group began coverage on ESAB in a research note on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on ESAB from $135.00 to $133.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Stifel Nicolaus lowered their price objective on ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Finally, Evercore ISI upgraded ESAB from an “underperform” rating to an “inline” rating and cut their price objective for the company from $122.00 to $120.00 in a research note on Monday, February 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ESAB presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.14.

Check Out Our Latest Analysis on ESAB

Institutional Investors Weigh In On ESAB

A number of hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $26,000 after purchasing an additional 90 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in ESAB in the 4th quarter worth about $34,000. Trust Co. of Vermont lifted its stake in shares of ESAB by 871.0% during the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after acquiring an additional 270 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of ESAB during the fourth quarter worth $36,000. Finally, Kapitalo Investimentos Ltda bought a new stake in ESAB during the 4th quarter valued at about $47,000. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Company Profile

(Get Free Report)

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.

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