Lincoln Electric Holdings, Inc. (LECO) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) from a sell rating to a hold rating in a research note released on Monday.
According to Zacks, “Lincoln Electric will gain from continued investment in the marketing strategy for the retail channel. The Air Liquide acquisition will enhance its 2020 Vision and Strategy and will be immediately accretive to Lincoln Electric's earnings. Improving end markets, tax benefits and acquisition strength will drive growth. Progress in organic growth in China and Australia also remain tailwinds. Its estimates have gone up over the past three months. The company has a positive record of earnings surprises in recent quarters. Over the past year, Lincoln Electric strongly outperformed the industry's return on the back of these factors. However, elevated interest expenses, stronger U.S. dollar and weakness in industrial production remain headwinds.”
LECO has been the subject of several other reports. ValuEngine lowered Lincoln Electric Holdings from a buy rating to a hold rating in a report on Monday, October 2nd. FBR & Co reissued a buy rating on shares of Lincoln Electric Holdings in a report on Monday, August 21st. Deutsche Bank AG raised Lincoln Electric Holdings from a hold rating to a buy rating and set a $100.00 price objective for the company in a report on Friday, August 4th. BidaskClub lowered Lincoln Electric Holdings from a strong-buy rating to a buy rating in a report on Monday, July 24th. Finally, KeyCorp reissued a hold rating on shares of Lincoln Electric Holdings in a report on Friday, August 25th. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $89.00.
Shares of Lincoln Electric Holdings (NASDAQ LECO) opened at 94.87 on Monday. The firm has a market capitalization of $6.25 billion, a PE ratio of 27.42 and a beta of 1.01. Lincoln Electric Holdings has a 12-month low of $61.04 and a 12-month high of $97.97. The company’s 50-day moving average price is $90.80 and its 200 day moving average price is $89.89.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. Lincoln Electric Holdings had a return on equity of 30.55% and a net margin of 9.86%. The business had revenue of $626.90 million during the quarter, compared to analyst estimates of $620.28 million. During the same period in the prior year, the company earned $0.83 earnings per share. Lincoln Electric Holdings’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts forecast that Lincoln Electric Holdings will post $3.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.40 annualized dividend and a dividend yield of 1.48%. Lincoln Electric Holdings’s dividend payout ratio is currently 40.46%.
In other Lincoln Electric Holdings news, VP Michele R. Kuhrt sold 3,080 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $88.55, for a total transaction of $272,734.00. Following the sale, the vice president now owns 14,449 shares in the company, valued at $1,279,458.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.27% of the company’s stock.
Several large investors have recently bought and sold shares of LECO. UBS Asset Management Americas Inc. lifted its position in shares of Lincoln Electric Holdings by 14.8% during the first quarter. UBS Asset Management Americas Inc. now owns 37,207 shares of the industrial products company’s stock worth $3,232,000 after acquiring an additional 4,805 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Lincoln Electric Holdings during the first quarter worth $278,000. Stifel Financial Corp lifted its position in shares of Lincoln Electric Holdings by 95.5% during the first quarter. Stifel Financial Corp now owns 11,110 shares of the industrial products company’s stock worth $966,000 after acquiring an additional 5,427 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Lincoln Electric Holdings during the first quarter worth $1,296,000. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Lincoln Electric Holdings during the first quarter worth $276,000. Hedge funds and other institutional investors own 63.94% of the company’s stock.
Lincoln Electric Holdings Company Profile
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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