Oppenheimer analyst Bryan Blair assigned a Hold rating to Lincoln Electric Holdings (LECO) today. The company’s shares closed last Friday at $91.53.
According to TipRanks.com, Blair is a 3-star analyst with an average return of 4.3% and a 52.3% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Watts Water Technologies, Altra Industrial Motion, and Mueller Water Products.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lincoln Electric Holdings with a $88.00 average price target, a -3.9% downside from current levels. In a report issued on July 15, Barclays also maintained a Hold rating on the stock with a $90.00 price target.
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Based on Lincoln Electric Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $702 million and net profit of $55.56 million. In comparison, last year the company earned revenue of $759 million and had a net profit of $71.48 million.
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Lincoln Electric Holdings, Inc. engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The firm offers CNC plasma and oxy-fuel cutting systems, regulators and torches used in oxy-fuel welding, cutting and brazing. It operates through the following 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. The Harris Products Group includes the company’s global cutting, soldering and brazing businesses as well as the retail business in the United States. The company was founded on 1895 and is headquartered in Cleveland, OH.
