Lincoln Electric (NASDAQ:LECO) Price Target Cut to $86.00

Lincoln Electric (NASDAQ:LECO) had its target price lowered by Robert W. Baird from $105.00 to $86.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective indicates a potential upside of 10.12% from the company’s previous close.

LECO has been the subject of a number of other research reports. BidaskClub downgraded shares of Lincoln Electric from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 25th. Barclays reissued a “hold” rating and issued a $90.00 price objective on shares of Lincoln Electric in a research note on Thursday, January 30th. Finally, Vertical Research raised shares of Lincoln Electric from a “sell” rating to a “hold” rating in a research note on Monday, March 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $84.00.

Shares of NASDAQ:LECO traded up $0.38 on Tuesday, reaching $78.10. 328,676 shares of the company’s stock were exchanged, compared to its average volume of 431,368. The company has a fifty day moving average of $75.74 and a 200-day moving average of $87.85. Lincoln Electric has a twelve month low of $59.29 and a twelve month high of $98.32. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.84 and a beta of 1.24. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, February 13th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.02. Lincoln Electric had a net margin of 9.76% and a return on equity of 35.24%. The firm had revenue of $736.31 million for the quarter, compared to analyst estimates of $735.90 million. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Lincoln Electric will post 3.95 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. Albert D Mason Inc. grew its holdings in Lincoln Electric by 1.5% in the fourth quarter. Albert D Mason Inc. now owns 9,091 shares of the industrial products company’s stock worth $879,000 after purchasing an additional 136 shares during the period. Zeke Capital Advisors LLC grew its holdings in shares of Lincoln Electric by 7.5% during the fourth quarter. Zeke Capital Advisors LLC now owns 6,418 shares of the industrial products company’s stock valued at $621,000 after buying an additional 447 shares during the last quarter. Adams Diversified Equity Fund Inc. acquired a new position in shares of Lincoln Electric during the fourth quarter valued at about $13,987,000. Voya Investment Management LLC grew its holdings in shares of Lincoln Electric by 2.0% during the third quarter. Voya Investment Management LLC now owns 16,673 shares of the industrial products company’s stock valued at $1,447,000 after buying an additional 332 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Lincoln Electric by 5.6% during the fourth quarter. Russell Investments Group Ltd. now owns 32,027 shares of the industrial products company’s stock valued at $3,095,000 after buying an additional 1,699 shares during the last quarter. Institutional investors and hedge funds own 73.41% 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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Analyst Recommendations for Lincoln Electric (NASDAQ:LECO)

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