BidaskClub Downgrades Lincoln Electric (NASDAQ:LECO) to Hold

Lincoln Electric (NASDAQ:LECO) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, BidAskClub reports.

Several other brokerages also recently commented on LECO. Zacks Investment Research raised Lincoln Electric from a “sell” rating to a “hold” rating and set a $87.00 price objective on the stock in a research note on Monday, July 1st. Robert W. Baird raised Lincoln Electric from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $93.00 to $100.00 in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $95.56.

Lincoln Electric stock traded down $0.19 during mid-day trading on Friday, hitting $82.51. 382,971 shares of the company’s stock were exchanged, compared to its average volume of 525,343. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.45 and a beta of 1.24. Lincoln Electric has a fifty-two week low of $72.28 and a fifty-two week high of $97.93. The company has a quick ratio of 1.56, a current ratio of 1.98 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average price of $82.59.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02). The business had revenue of $777.01 million for the quarter, compared to analyst estimates of $786.03 million. Lincoln Electric had a return on equity of 36.16% and a net margin of 10.42%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. On average, sell-side analysts anticipate that Lincoln Electric will post 5.08 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisory Alpha LLC acquired a new stake in shares of Lincoln Electric in the 1st quarter valued at about $25,000. Advisory Services Network LLC increased its position in shares of Lincoln Electric by 94.0% in the second quarter. Advisory Services Network LLC now owns 481 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 233 shares during the last quarter. Huntington National Bank increased its position in shares of Lincoln Electric by 18.8% in the first quarter. Huntington National Bank now owns 950 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 150 shares during the last quarter. NumerixS Investment Technologies Inc increased its position in shares of Lincoln Electric by 433.3% in the first quarter. NumerixS Investment Technologies Inc now owns 1,600 shares of the industrial products company’s stock valued at $134,000 after acquiring an additional 1,300 shares during the last quarter. Finally, ETF Managers Group LLC increased its position in shares of Lincoln Electric by 11.3% in the first quarter. ETF Managers Group LLC now owns 1,608 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 163 shares during the last quarter. 71.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

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Analyst Recommendations for Lincoln Electric (NASDAQ:LECO)

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