Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Receives Average Recommendation of “Buy” from Analysts

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) has received an average recommendation of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $125.14.

LECO has been the subject of several analyst reports. Barclays upped their target price on Lincoln Electric from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, April 28th. Oppenheimer restated a “hold” rating on shares of Lincoln Electric in a report on Monday, February 15th. Vertical Research upgraded Lincoln Electric from a “sell” rating to a “hold” rating and set a $140.00 target price for the company in a report on Wednesday, April 28th. Finally, Morgan Stanley upped their target price on Lincoln Electric from $121.00 to $132.00 and gave the company an “equal weight” rating in a report on Wednesday, April 28th.

In other news, EVP Jennifer I. Ansberry sold 3,984 shares of the company’s stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $132.31, for a total value of $527,123.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.35% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of LECO. Certified Advisory Corp acquired a new position in Lincoln Electric during the 1st quarter worth about $49,000. Harvest Fund Management Co. Ltd acquired a new position in Lincoln Electric during the 4th quarter worth about $55,000. Bessemer Group Inc. acquired a new position in Lincoln Electric during the 1st quarter worth about $61,000. Meeder Asset Management Inc. lifted its stake in Lincoln Electric by 419.2% during the 1st quarter. Meeder Asset Management Inc. now owns 540 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 436 shares in the last quarter. Finally, Concord Wealth Partners lifted its stake in Lincoln Electric by 3,950.0% during the 1st quarter. Concord Wealth Partners now owns 567 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 553 shares in the last quarter. 73.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LECO opened at $128.53 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.95 and a quick ratio of 1.27. Lincoln Electric has a one year low of $78.96 and a one year high of $136.04. The stock has a market capitalization of $7.65 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 2.30 and a beta of 1.17. The stock’s 50 day moving average price is $127.82.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Tuesday, April 27th. The industrial products company reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.19. The firm had revenue of $757.02 million during the quarter, compared to analysts’ expectations of $727.87 million. Lincoln Electric had a return on equity of 36.67% and a net margin of 8.29%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 earnings per share. Sell-side analysts predict that Lincoln Electric will post 5.61 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Tuesday, June 29th. Lincoln Electric’s dividend payout ratio (DPR) is presently 49.16%.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It 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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