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ESAB Corporation (ESAB) Receives a Rating Update from a Top Analyst

Tipranks - Thu Jan 1, 6:40AM CST

Stifel Nicolaus analyst Nathan Jones maintained a Buy rating on ESAB Corporation yesterday and set a price target of $143.00. The company’s shares closed yesterday at $113.25.

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According to TipRanks, Jones is a top 100 analyst with an average return of 21.8% and a 73.71% success rate. Jones covers the Industrials sector, focusing on stocks such as Parker Hannifin, Curtiss-Wright, and ITT.

ESAB Corporation has an analyst consensus of Strong Buy, with a price target consensus of $147.33.

Based on ESAB Corporation’s latest earnings release for the quarter ending October 3, the company reported a quarterly revenue of $727.85 million and a net profit of $54.85 million. In comparison, last year the company earned a revenue of $673.25 million and had a net profit of $68.24 million

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ESAB in relation to earlier this year. Last month, Rajiv Vinnakota, a Director at ESAB sold 2,783.00 shares for a total of $318,653.50.

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