Lincoln Electric (NASDAQ:LECO) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other equities analysts have also recently issued reports on LECO. ValuEngine upgraded Lincoln Electric from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Wellington Shields upgraded Lincoln Electric from a “hold” rating to a “gradually accumulate” rating in a research note on Tuesday, April 24th. Stifel Nicolaus reduced their price objective on Lincoln Electric from $112.00 to $106.00 and set a “buy” rating on the stock in a research note on Tuesday, April 24th. Robert W. Baird restated a “hold” rating and set a $93.00 price objective on shares of Lincoln Electric in a research note on Friday, April 13th. Finally, Zacks Investment Research cut Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Monday, March 19th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $104.30.
Shares of Lincoln Electric opened at $89.01 on Friday, according to Marketbeat. Lincoln Electric has a 12-month low of $81.48 and a 12-month high of $101.34. The firm has a market cap of $5.96 billion, a P/E ratio of 23.49, a PEG ratio of 1.55 and a beta of 1.11. The company has a current ratio of 2.63, a quick ratio of 1.93 and a debt-to-equity ratio of 0.71.
Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Monday, April 23rd. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.02. Lincoln Electric had a return on equity of 28.83% and a net margin of 9.01%. The firm had revenue of $757.70 million for the quarter, compared to analysts’ expectations of $737.87 million. During the same period last year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. analysts predict that Lincoln Electric will post 4.74 EPS for the current fiscal year.
In other Lincoln Electric news, Director G Russell Lincoln sold 22,000 shares of the firm’s stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $91.11, for a total value of $2,004,420.00. Following the sale, the director now directly owns 214,923 shares in the company, valued at $19,581,634.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.27% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Suntrust Banks Inc. lifted its stake in Lincoln Electric by 4.7% in the first quarter. Suntrust Banks Inc. now owns 25,314 shares of the industrial products company’s stock valued at $2,276,000 after buying an additional 1,136 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Lincoln Electric by 6.6% during the first quarter. Amalgamated Bank now owns 13,200 shares of the industrial products company’s stock valued at $1,187,000 after purchasing an additional 813 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Lincoln Electric by 5.2% during the first quarter. Principal Financial Group Inc. now owns 896,122 shares of the industrial products company’s stock valued at $80,605,000 after purchasing an additional 44,436 shares during the period. Xact Kapitalforvaltning AB increased its holdings in shares of Lincoln Electric by 21.1% during the first quarter. Xact Kapitalforvaltning AB now owns 6,316 shares of the industrial products company’s stock valued at $568,000 after purchasing an additional 1,100 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of Lincoln Electric by 22.5% during the first quarter. Royal Bank of Canada now owns 85,667 shares of the industrial products company’s stock valued at $7,707,000 after purchasing an additional 15,737 shares during the period. Institutional investors own 66.65% of the company’s stock.
Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company's welding products include arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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