Zacks Investment Research upgraded shares of Lincoln Electric (NASDAQ:LECO) from a hold rating to a buy rating in a research note published on Friday, February 2nd. The brokerage currently has $110.00 price objective on the industrial products company’s stock.
According to Zacks, “Lincoln Electric stands to gain from its improving end markets. Focus on commercializing innovative products, relatively stable pricing environment and cost-cutting initiatives will drive growth. It will also benefit from consistent investment in welding automation. Further, the acquisition of Air Liquide will enhance 2020 Vision and Strategy and enables Lincoln to build its global footprint. It will also be accretive to earnings. The company has a positive record of earnings surprises. The company has outperformed the industry in the past three months. “
Other analysts have also issued research reports about the company. FBR & Co reiterated a buy rating and set a $115.00 price objective (up from $105.00) on shares of Lincoln Electric in a report on Friday, October 27th. Oppenheimer reiterated a hold rating on shares of Lincoln Electric in a report on Monday, October 30th. Robert W. Baird reiterated a hold rating and set a $92.00 price objective on shares of Lincoln Electric in a report on Friday, October 13th. B. Riley reiterated a buy rating on shares of Lincoln Electric in a report on Wednesday, November 1st. Finally, KeyCorp reissued a hold rating on shares of Lincoln Electric in a research report on Friday, October 20th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Lincoln Electric presently has a consensus rating of Hold and a consensus price target of $103.38.
Shares of Lincoln Electric (NASDAQ:LECO) traded up $1.76 during midday trading on Friday, reaching $88.58. The company’s stock had a trading volume of 569,000 shares, compared to its average volume of 435,606. Lincoln Electric has a 52-week low of $81.39 and a 52-week high of $101.34. The company has a market cap of $5,708.91, a price-to-earnings ratio of 21.29, a P/E/G ratio of 1.70 and a beta of 1.04. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 0.75.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Lincoln Electric by 0.5% in the fourth quarter. BlackRock Inc. now owns 5,273,569 shares of the industrial products company’s stock valued at $482,954,000 after acquiring an additional 27,984 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt increased its holdings in shares of Lincoln Electric by 8.3% in the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,300,000 shares of the industrial products company’s stock valued at $119,184,000 after purchasing an additional 100,000 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Lincoln Electric by 2.6% in the third quarter. Fisher Asset Management LLC now owns 1,099,558 shares of the industrial products company’s stock valued at $100,807,000 after purchasing an additional 27,495 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of Lincoln Electric in the second quarter valued at approximately $990,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Lincoln Electric in the second quarter valued at approximately $89,024,000. Institutional investors own 64.05% of the company’s stock.
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About Lincoln Electric
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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