Lincoln Electric (NASDAQ:LECO) Stock Rating Upgraded by StockNews.com

Lincoln Electric (NASDAQ:LECO – Get Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Several other research firms also recently weighed in on LECO. Oppenheimer boosted their price target on shares of Lincoln Electric from $177.00 to $180.00 in a research note on Friday, April 28th. Morgan Stanley boosted their price objective on shares of Lincoln Electric from $149.00 to $151.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 22nd. Barclays boosted their price objective on shares of Lincoln Electric from $145.00 to $185.00 in a research report on Tuesday, May 2nd. Robert W. Baird boosted their price objective on shares of Lincoln Electric from $184.00 to $200.00 in a research report on Tuesday, May 30th. Finally, CL King initiated coverage on shares of Lincoln Electric in a research report on Tuesday, May 16th. They issued a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lincoln Electric has a consensus rating of “Moderate Buy” and a consensus target price of $181.17.

Lincoln Electric Stock Performance

NASDAQ LECO opened at $195.26 on Wednesday. Lincoln Electric has a 52-week low of $118.17 and a 52-week high of $196.49. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.13 and a current ratio of 1.93. The company has a market capitalization of $11.24 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.41 and a beta of 1.13. The company has a fifty day moving average of $169.26 and a 200-day moving average of $162.83.

Lincoln Electric (NASDAQ:LECO – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.09. Lincoln Electric had a net margin of 12.08% and a return on equity of 48.56%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $2.10 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, equities research analysts predict that Lincoln Electric will post 8.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Steven B. Hedlund sold 8,235 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $166.52, for a total transaction of $1,371,292.20. Following the sale, the chief operating officer now owns 41,123 shares of the company’s stock, valued at $6,847,801.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Steven B. Hedlund sold 8,235 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $166.52, for a total transaction of $1,371,292.20. Following the transaction, the chief operating officer now owns 41,123 shares in the company, valued at $6,847,801.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michele R. Kuhrt sold 3,505 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $168.10, for a total transaction of $589,190.50. Following the transaction, the executive vice president now owns 16,660 shares in the company, valued at approximately $2,800,546. The disclosure for this sale can be found here. Insiders have sold 19,585 shares of company stock valued at $3,462,210 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Lincoln Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fred Alger Management LLC purchased a new stake in shares of Lincoln Electric in the third quarter worth $34,000. Lazard Asset Management LLC purchased a new stake in shares of Lincoln Electric in the first quarter worth $35,000. Money Concepts Capital Corp increased its stake in shares of Lincoln Electric by 68.0% in the fourth quarter. Money Concepts Capital Corp now owns 257 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 104 shares in the last quarter. Machina Capital S.A.S. purchased a new stake in shares of Lincoln Electric in the first quarter worth $38,000. Finally, IFP Advisors Inc increased its stake in shares of Lincoln Electric by 33.2% in the third quarter. IFP Advisors Inc now owns 305 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 76 shares in the last quarter. 73.25% of the stock is owned by hedge funds and other institutional investors.

About Lincoln Electric

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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 brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, as well as consumables used in the brazing and soldering alloys market.

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