Lincoln Electric (NASDAQ:LECO) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has a $100.00 price target on the industrial products company’s stock, up from their prior price target of $93.00. Robert W. Baird’s target price would suggest a potential upside of 19.70% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of First Merchants from a “hold” rating to a “sell” rating in a report on Monday, July 1st. BidaskClub downgraded shares of Waterstone Financial from a “hold” rating to a “sell” rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $95.56.
Shares of LECO stock opened at $83.54 on Friday. The company’s 50-day moving average price is $79.61. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.82. The stock has a market cap of $5.25 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 1.45 and a beta of 1.25. Lincoln Electric has a one year low of $72.28 and a one year high of $97.93.
Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Monday, April 22nd. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). The company had revenue of $759.17 million for the quarter, compared to analysts’ expectations of $767.41 million. Lincoln Electric had a net margin of 9.83% and a return on equity of 35.14%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 EPS. As a group, analysts anticipate that Lincoln Electric will post 5.09 EPS for the current year.
Several large investors have recently modified their holdings of LECO. Commonwealth Equity Services LLC lifted its stake in shares of Lincoln Electric by 3.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,610 shares of the industrial products company’s stock worth $678,000 after purchasing an additional 308 shares during the period. Advisor Group Inc. lifted its stake in shares of Lincoln Electric by 9.1% in the 4th quarter. Advisor Group Inc. now owns 2,569 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 215 shares during the period. Northern Trust Corp lifted its stake in shares of Lincoln Electric by 26.3% in the 4th quarter. Northern Trust Corp now owns 642,595 shares of the industrial products company’s stock worth $50,669,000 after purchasing an additional 133,664 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Lincoln Electric by 8.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 39,482 shares of the industrial products company’s stock worth $2,889,000 after purchasing an additional 3,088 shares during the period. Finally, United Services Automobile Association lifted its stake in shares of Lincoln Electric by 5.6% in the 4th quarter. United Services Automobile Association now owns 10,331 shares of the industrial products company’s stock worth $815,000 after purchasing an additional 550 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.
About Lincoln Electric
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 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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