Lincoln Electric (LECO) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Lincoln Electric (NASDAQ:LECO) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

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. 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. The stock has underperformed the industry, over the past year. “

Several other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Lincoln Electric from a buy rating to a strong-buy rating in a research note on Tuesday, January 16th. Stifel Nicolaus upgraded shares of Lincoln Electric from a hold rating to a buy rating and boosted their target price for the company from $97.00 to $116.00 in a research note on Tuesday, January 16th. Oppenheimer upgraded shares of Lincoln Electric from a market perform rating to an outperform rating and set a $105.00 target price for the company in a research note on Thursday, January 4th. UBS Group upgraded shares of Lincoln Electric from a market perform rating to an outperform rating in a research note on Thursday, January 4th. Finally, Barclays began coverage on shares of Lincoln Electric in a research report on Tuesday, December 12th. They set an equal weight rating and a $90.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $102.63.

Lincoln Electric (LECO) opened at $100.01 on Wednesday. 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 has a 12 month low of $80.15 and a 12 month high of $100.68. The stock has a market cap of $6,576.26, a price-to-earnings ratio of 24.04, a P/E/G ratio of 1.99 and a beta of 1.08.

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

A number of large investors have recently bought and sold shares of LECO. BlueMountain Capital Management LLC acquired a new position in Lincoln Electric during the second quarter worth $179,000. Dynamic Technology Lab Private Ltd acquired a new position in Lincoln Electric during the second quarter worth $219,000. Campbell & CO Investment Adviser LLC acquired a new position in Lincoln Electric during the third quarter worth $219,000. Cubist Systematic Strategies LLC raised its position in Lincoln Electric by 311.7% during the second quarter. Cubist Systematic Strategies LLC now owns 2,470 shares of the industrial products company’s stock worth $227,000 after acquiring an additional 1,870 shares during the period. Finally, South Dakota Investment Council acquired a new position in Lincoln Electric during the third quarter worth $248,000. Institutional investors own 63.64% of the company’s stock.

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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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