ESAB (ESAB)

• Market cap: $7.49B
• 1 day: -0.12%
• 5 days: 8.86%
• 1 month: -4.32%
• 3 months: 10.14%
• 6 months: 23.95%
• Year to date: 4.72%
• 1 year: 48.93%
• 5 years: 147.82%
• 10 years: 147.82%
• Sector: Industrials
• Industry: General Industrial Machinery & Equipment, Not Elsewhere Classified

About: ESAB, spun off from Colfax in 2022, is a leading manufacturer of equipment and consumables used in welding, cutting, and joining applications. Alongside competitors Lincoln Electric and ITW's Miller brand, ESAB is one of the top three players in the welding space. ESAB generated roughly $2.8 billion in revenue in 2023.

Employees: 9,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

352% more call options, than puts

Call options by funds: $6.14M | Put options by funds: $1.36M

14% more capital invested

Capital invested by funds: $5.42B [Q2] → $6.15B (+$735M) [Q3]

0.85% more ownership

Funds ownership: 94.93% [Q2] → 95.78% (+0.85%) [Q3]

6% less funds holding

Funds holding: 315 [Q2] → 297 (-18) [Q3]

27% less first-time investments, than exits

New positions opened: 35 | Existing positions closed: 48

29% less repeat investments, than reductions

Existing positions increased: 90 | Existing positions reduced: 126

50% less funds holding in top 10

Funds holding in top 10: 2 [Q2] → 1 (-1) [Q3]

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $120 3% downside
• Avg. target: $135 9% upside
• High target: $160 29% upside

5 analyst ratings

• positive: 2 40%
• neutral: 2 40%
• negative: 1 20%

Jefferies Saree Boroditsky 25% 1-year accuracy 2 / 8 met price target	29% upside $160	Buy Initiated	12 Dec 2024
Stifel Nathan Jones 65% 1-year accuracy 44 / 68 met price target	5% upside $130	Hold Downgraded	18 Nov 2024
Evercore ISI Group David Raso 67% 1-year accuracy 12 / 18 met price target	2% downside $122	Underperform Downgraded	13 Nov 2024
Oppenheimer Bryan Blair 61% 1-year accuracy 25 / 41 met price target	16% upside $144	Outperform Reiterated	8 Nov 2024
Loop Capital Chris Dankert 57% 1-year accuracy 8 / 14 met price target	3% downside $120	Hold Maintained	30 Oct 2024