Lincoln Electric (LECO) Lifted to “Hold” at BidaskClub

Lincoln Electric (NASDAQ:LECO) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts have also weighed in on the company. Robert W. Baird set a $85.00 target price on Lincoln Electric and gave the stock a “hold” rating in a research report on Thursday, October 25th. Gabelli raised Lincoln Electric from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research report on Friday, October 26th. Oppenheimer set a $105.00 target price on Lincoln Electric and gave the stock a “buy” rating in a research report on Monday, July 23rd. Zacks Investment Research lowered Lincoln Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Finally, ValuEngine lowered Lincoln Electric from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $102.44.

Shares of NASDAQ:LECO traded down $0.75 during trading on Thursday, reaching $86.51. 278,300 shares of the stock were exchanged, compared to its average volume of 425,457. The company has a quick ratio of 1.88, a current ratio of 2.58 and a debt-to-equity ratio of 0.75. Lincoln Electric has a 1-year low of $75.07 and a 1-year high of $101.34. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 1.36 and a beta of 1.27.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, October 25th. The industrial products company reported $1.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.21. Lincoln Electric had a return on equity of 31.77% and a net margin of 7.40%. The company had revenue of $737.10 million for the quarter, compared to analyst estimates of $763.42 million. Equities research analysts anticipate that Lincoln Electric will post 4.74 earnings per share for the current fiscal year.

In related news, Director Kathryn Jo Lincoln sold 3,140 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $94.10, for a total value of $295,474.00. Following the completion of the sale, the director now directly owns 44,194 shares of the company’s stock, valued at approximately $4,158,655.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.27% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LECO. Bank of America Corp DE raised its position in Lincoln Electric by 1,164.8% in the 2nd quarter. Bank of America Corp DE now owns 968,000 shares of the industrial products company’s stock valued at $84,952,000 after buying an additional 891,469 shares during the last quarter. Keybank National Association OH raised its position in Lincoln Electric by 91.1% in the 2nd quarter. Keybank National Association OH now owns 1,308,640 shares of the industrial products company’s stock valued at $114,846,000 after buying an additional 623,921 shares during the last quarter. Prudential Financial Inc. raised its position in Lincoln Electric by 533.0% in the 3rd quarter. Prudential Financial Inc. now owns 322,233 shares of the industrial products company’s stock valued at $30,110,000 after buying an additional 271,328 shares during the last quarter. BlackRock Inc. raised its position in Lincoln Electric by 4.5% in the 2nd quarter. BlackRock Inc. now owns 5,695,447 shares of the industrial products company’s stock valued at $499,832,000 after buying an additional 246,220 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Lincoln Electric by 12.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,264,655 shares of the industrial products company’s stock valued at $118,170,000 after buying an additional 142,430 shares during the last quarter. 71.15% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Lincoln Electric (NASDAQ:LECO)

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