Lincoln Electric (NASDAQ:LECO – Get Rating) had its price target increased by equities researchers at Oppenheimer to $165.00 in a note issued to investors on Monday, Stock Target Advisor reports. Oppenheimer’s target price would indicate a potential upside of 10.26% from the company’s previous close. Oppenheimer also issued estimates for Lincoln Electric’s Q4 2022 earnings at $1.87 EPS, FY2022 earnings at $8.20 EPS and FY2023 earnings at $8.90 EPS.
Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus decreased their price objective on Lincoln Electric from $137.00 to $136.00 in a report on Tuesday, October 11th. StockNews.com upgraded Lincoln Electric from a “buy” rating to a “strong-buy” rating in a report on Monday, November 14th. Robert W. Baird upped their price target on Lincoln Electric from $150.00 to $152.00 in a research note on Thursday, October 27th. Morgan Stanley increased their price objective on Lincoln Electric from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 28th. Finally, Seaport Res Ptn reissued a “neutral” rating on shares of Lincoln Electric in a report on Monday, August 1st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Lincoln Electric currently has a consensus rating of “Hold” and an average target price of $152.60.
Lincoln Electric Trading Up 0.4 %
LECO opened at $149.64 on Monday. The stock’s fifty day moving average is $135.25 and its two-hundred day moving average is $134.29. The company has a market capitalization of $8.64 billion, a P/E ratio of 20.14, a PEG ratio of 1.20 and a beta of 1.15. Lincoln Electric has a 52 week low of $118.17 and a 52 week high of $150.01. The company has a quick ratio of 0.93, a current ratio of 1.70 and a debt-to-equity ratio of 0.77.
Hedge Funds Weigh In On Lincoln Electric
Several institutional investors have recently modified their holdings of LECO. Victory Capital Management Inc. grew its holdings in Lincoln Electric by 25.2% in the 1st quarter. Victory Capital Management Inc. now owns 1,817,978 shares of the industrial products company’s stock valued at $250,251,000 after buying an additional 366,053 shares in the last quarter. State Street Corp boosted its stake in Lincoln Electric by 11.8% in the first quarter. State Street Corp now owns 2,859,342 shares of the industrial products company’s stock valued at $395,604,000 after buying an additional 302,002 shares in the last quarter. Vaughan David Investments LLC IL acquired a new stake in Lincoln Electric in the first quarter valued at about $23,335,000. Renaissance Technologies LLC boosted its stake in Lincoln Electric by 1,948.4% in the second quarter. Renaissance Technologies LLC now owns 113,438 shares of the industrial products company’s stock valued at $13,994,000 after buying an additional 107,900 shares in the last quarter. Finally, Quadrature Capital Ltd raised its position in Lincoln Electric by 267.5% in the third quarter. Quadrature Capital Ltd now owns 105,840 shares of the industrial products company’s stock valued at $13,307,000 after purchasing an additional 77,043 shares during the last quarter. 74.25% of the stock is currently owned by institutional investors and hedge funds.
Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers welding products, including 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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