Lincoln Electric (LECO) Rating Increased to Buy at Zacks Investment Research

Lincoln Electric (NASDAQ:LECO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $106.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.59% from the stock’s current price.

According to Zacks, “Lincoln Electric stands to gain from its improving end markets. 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 company has a positive record of earnings surprises.  “

LECO has been the subject of several other reports. FBR & Co restated a “buy” rating and set a $115.00 target price (up from $105.00) on shares of Lincoln Electric in a research note on Friday, October 27th. Oppenheimer restated a “hold” rating on shares of Lincoln Electric in a research note on Monday, October 30th. Robert W. Baird restated a “hold” rating and set a $92.00 target price on shares of Lincoln Electric in a research note on Friday, October 13th. B. Riley restated a “buy” rating on shares of Lincoln Electric in a research note on Wednesday, November 1st. Finally, UBS Group upgraded Lincoln Electric from a “market perform” rating to an “outperform” rating in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $99.13.

Shares of Lincoln Electric (NASDAQ LECO) traded up $0.64 during trading hours on Monday, reaching $94.99. The company had a trading volume of 303,600 shares, compared to its average volume of 420,500. The firm has a market capitalization of $6,250.00, a P/E ratio of 22.89, a P/E/G ratio of 1.92 and a beta of 1.08. Lincoln Electric has a 1-year low of $75.86 and a 1-year high of $99.59. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 0.75.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Friday, October 27th. The industrial products company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.01). Lincoln Electric had a return on equity of 28.97% and a net margin of 11.34%. The business had revenue of $669.50 million for the quarter, compared to the consensus estimate of $658.48 million. During the same quarter in the previous year, the company earned $0.89 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. sell-side analysts predict that Lincoln Electric will post 3.75 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. FMR LLC bought a new position in Lincoln Electric during the 2nd quarter worth $23,713,000. The Manufacturers Life Insurance Company raised its position in Lincoln Electric by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 91,019 shares of the industrial products company’s stock worth $8,381,000 after purchasing an additional 1,739 shares during the last quarter. Alps Advisors Inc. bought a new position in Lincoln Electric during the 3rd quarter worth $483,000. Prudential Financial Inc. raised its position in Lincoln Electric by 111.8% during the 2nd quarter. Prudential Financial Inc. now owns 100,959 shares of the industrial products company’s stock worth $9,297,000 after purchasing an additional 53,303 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in Lincoln Electric by 47.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,018 shares of the industrial products company’s stock worth $460,000 after purchasing an additional 1,609 shares during the last quarter. 63.64% of the stock is owned by institutional investors and hedge funds.

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Lincoln Electric 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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