Lincoln Electric Holdings, Inc. (LECO) Downgraded to Hold at BidaskClub

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities analysts also recently commented on the company. Deutsche Bank AG reduced their price objective on Lincoln Electric Holdings from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. Royal Bank Of Canada reiterated a “hold” rating and set a $78.00 price objective on shares of Lincoln Electric Holdings in a research report on Monday, April 17th. Barclays PLC reiterated an “equal weight” rating and set a $82.00 price objective (up previously from $75.00) on shares of Lincoln Electric Holdings in a research report on Saturday, April 22nd. Stifel Nicolaus reiterated a “hold” rating and set a $88.00 price objective (up previously from $86.00) on shares of Lincoln Electric Holdings in a research report on Saturday, April 22nd. Finally, Zacks Investment Research downgraded Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Lincoln Electric Holdings presently has a consensus rating of “Hold” and a consensus price target of $89.67.

Lincoln Electric Holdings (NASDAQ LECO) opened at 86.07 on Friday. Lincoln Electric Holdings has a 1-year low of $59.27 and a 1-year high of $97.97. The firm has a 50-day moving average price of $90.51 and a 200 day moving average price of $88.35. The company has a market capitalization of $5.67 billion, a P/E ratio of 24.88 and a beta of 0.97.

Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.97 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $626.90 million for the quarter, compared to the consensus estimate of $620.28 million. During the same quarter last year, the business posted $0.83 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts predict that Lincoln Electric Holdings will post $3.75 EPS for the current year.

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In other Lincoln Electric Holdings news, VP Steven B. Hedlund sold 4,503 shares of Lincoln Electric Holdings stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $94.40, for a total value of $425,083.20. Following the sale, the vice president now owns 24,489 shares in the company, valued at $2,311,761.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn Jo Lincoln sold 4,290 shares of Lincoln Electric Holdings stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $95.43, for a total value of $409,394.70. Following the completion of the sale, the director now owns 45,943 shares in the company, valued at approximately $4,384,340.49. The disclosure for this sale can be found here. Insiders sold 45,463 shares of company stock worth $4,140,642 in the last 90 days. Company insiders own 3.27% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Teachers Advisors LLC increased its stake in Lincoln Electric Holdings by 4.8% in the fourth quarter. Teachers Advisors LLC now owns 65,808 shares of the industrial products company’s stock valued at $5,045,000 after buying an additional 3,011 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Lincoln Electric Holdings by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the industrial products company’s stock valued at $1,355,000 after buying an additional 300 shares in the last quarter. Retirement Systems of Alabama increased its stake in Lincoln Electric Holdings by 58.2% in the first quarter. Retirement Systems of Alabama now owns 126,823 shares of the industrial products company’s stock valued at $11,016,000 after buying an additional 46,673 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its stake in Lincoln Electric Holdings by 4.5% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 13,355 shares of the industrial products company’s stock valued at $1,160,000 after buying an additional 575 shares in the last quarter. Finally, Personal Capital Advisors Corp purchased a new stake in Lincoln Electric Holdings during the first quarter valued at about $456,000. Institutional investors own 64.10% of the company’s stock.

About Lincoln Electric Holdings

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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