Lincoln Electric Holdings, Inc. (LECO) Cut to Hold at Zacks Investment Research

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Lincoln Electric’s top and bottom-line both improved on a year-over-year basis. While revenues beat the Zacks Consensus Estimate, earnings came in line. The company’s end markets continue to improve. Focus on commercializing innovative products, relatively stable pricing environment and cost-cutting initiatives will drive growth. It will also benefit from consistent investment in welding automation. Further, the acquisition of Air Liquide will enhance 2020 Vision and Strategy and enables Lincoln to build its global footprint. It will also be accretive to earnings. The stock has underperformed the industry, year-to-date. Raw material inflation will impact margins in fourth-quarter 2017 as well as in 2018. A stronger U.S. dollar will continue to affect the company’s exports. “

Several other brokerages have also commented on LECO. FBR & Co reaffirmed a “buy” rating and issued a $115.00 price target (up previously from $105.00) on shares of Lincoln Electric Holdings in a research note on Friday, October 27th. KeyCorp reaffirmed a “hold” rating on shares of Lincoln Electric Holdings in a research note on Friday, October 20th. Robert W. Baird reaffirmed a “hold” rating and issued a $92.00 price target on shares of Lincoln Electric Holdings in a research note on Friday, October 13th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $95.00 price target on shares of Lincoln Electric Holdings in a research note on Wednesday, October 4th. Finally, BidaskClub lowered Lincoln Electric Holdings from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Lincoln Electric Holdings currently has an average rating of “Hold” and an average price target of $96.43.

Lincoln Electric Holdings (LECO) traded up 0.01% during midday trading on Wednesday, reaching $91.68. The company’s stock had a trading volume of 122,834 shares. Lincoln Electric Holdings has a 1-year low of $63.49 and a 1-year high of $99.59. The firm has a market capitalization of $6.04 billion, a PE ratio of 26.50 and a beta of 1.01. The firm has a 50 day moving average price of $93.39 and a 200 day moving average price of $90.67.

Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). The company had revenue of $669.50 million during the quarter, compared to analyst estimates of $658.48 million. Lincoln Electric Holdings had a net margin of 11.34% and a return on equity of 30.48%. Lincoln Electric Holdings’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. On average, analysts predict that Lincoln Electric Holdings will post $3.76 EPS for the current year.

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In other Lincoln Electric Holdings news, VP Michele R. Kuhrt sold 3,080 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $88.55, for a total value of $272,734.00. Following the transaction, the vice president now owns 14,449 shares of the company’s stock, valued at $1,279,458.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.27% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of LECO. Koch Industries Inc. acquired a new position in Lincoln Electric Holdings in the second quarter worth $990,000. Janus Henderson Group PLC acquired a new position in Lincoln Electric Holdings in the second quarter worth $89,024,000. Principal Financial Group Inc. boosted its stake in Lincoln Electric Holdings by 91.2% in the second quarter. Principal Financial Group Inc. now owns 843,705 shares of the industrial products company’s stock worth $77,697,000 after purchasing an additional 402,372 shares in the last quarter. Lodge Hill Capital LLC acquired a new position in Lincoln Electric Holdings in the second quarter worth $34,994,000. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in Lincoln Electric Holdings by 1,285.3% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 301,350 shares of the industrial products company’s stock worth $27,627,000 after purchasing an additional 279,596 shares in the last quarter. 60.60% of the stock is currently owned by institutional investors.

Lincoln Electric Holdings Company Profile

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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