Lincoln Electric (NASDAQ:LECO) Lifted to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Lincoln Electric (NASDAQ:LECO) from a neutral rating to an overweight rating in a research note published on Monday, The Fly reports.

Several other brokerages also recently issued reports on LECO. Robert W. Baird increased their price target on Lincoln Electric from $94.00 to $106.00 and gave the stock an outperform rating in a report on Tuesday, July 28th. Morgan Stanley increased their price target on Lincoln Electric from $86.00 to $90.00 and gave the stock an equal weight rating in a report on Tuesday, July 28th. TheStreet upgraded Lincoln Electric from a c+ rating to a b- rating in a report on Monday, June 22nd. Longbow Research upgraded Lincoln Electric from a neutral rating to a buy rating and set a $120.00 price target for the company in a report on Monday, October 12th. Finally, BidaskClub upgraded Lincoln Electric from a sell rating to a hold rating in a report on Wednesday, October 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $101.80.

NASDAQ LECO opened at $101.66 on Monday. The stock has a 50-day simple moving average of $94.14 and a 200 day simple moving average of $86.95. The company has a market capitalization of $6.04 billion, a PE ratio of 28.56, a P/E/G ratio of 2.79 and a beta of 1.23. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 1.08. Lincoln Electric has a 12 month low of $59.29 and a 12 month high of $103.62.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Monday, July 27th. The industrial products company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.45. Lincoln Electric had a return on equity of 33.45% and a net margin of 7.93%. The business had revenue of $590.70 million during the quarter, compared to the consensus estimate of $556.14 million. During the same quarter in the prior year, the company posted $1.28 earnings per share. The firm’s revenue was down 24.0% on a year-over-year basis. As a group, sell-side analysts predict that Lincoln Electric will post 3.62 earnings per share for the current fiscal year.

In related news, SVP Douglas S. Lance sold 3,560 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.38, for a total transaction of $332,432.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michele R. Kuhrt sold 2,850 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $97.71, for a total value of $278,473.50. Following the transaction, the executive vice president now directly owns 19,693 shares of the company’s stock, valued at $1,924,203.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,845 shares of company stock valued at $1,625,413. 3.60% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cerebellum GP LLC acquired a new position in Lincoln Electric during the third quarter valued at approximately $63,000. Cutler Group LP boosted its position in Lincoln Electric by 400.0% during the second quarter. Cutler Group LP now owns 1,000 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 800 shares during the last quarter. Captrust Financial Advisors boosted its position in Lincoln Electric by 33.2% during the second quarter. Captrust Financial Advisors now owns 1,746 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 435 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Lincoln Electric during the second quarter valued at approximately $200,000. Finally, Advisor Group Holdings Inc. acquired a new position in Lincoln Electric during the first quarter valued at approximately $224,000. 74.58% of the stock is owned by hedge funds and other institutional investors.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, 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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