Lincoln Electric (LECO) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Lincoln Electric (NASDAQ:LECO) from a buy rating to a hold rating in a report released 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. The stock has outperformed the industry, over the past three months. 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. “

Several other brokerages also recently commented on LECO. Barclays raised their price objective on shares of Lincoln Electric from $90.00 to $96.00 and gave the company a hold rating in a research report on Wednesday, January 24th. BidaskClub upgraded shares of Lincoln Electric from a buy rating to a strong-buy rating in a research report on Tuesday, January 16th. FBR & Co restated a buy rating and set a $115.00 price objective (up from $105.00) on shares of Lincoln Electric in a research report on Friday, October 27th. Stifel Nicolaus upgraded shares of Lincoln Electric from a hold rating to a buy rating and raised their price objective for the company from $97.00 to $116.00 in a research report on Tuesday, January 16th. Finally, KeyCorp restated a hold rating on shares of Lincoln Electric in a research report on Friday, October 20th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $103.38.

Shares of Lincoln Electric (LECO) opened at $90.00 on Wednesday. The company has a market cap of $5,960.75, a price-to-earnings ratio of 25.25, a PEG ratio of 1.77 and a beta of 1.04. Lincoln Electric has a 52-week low of $81.39 and a 52-week high of $101.34. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.83 and a current ratio of 2.55.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Elefante Mark B bought a new stake in Lincoln Electric in the 4th quarter valued at $211,000. Dynamic Technology Lab Private Ltd bought a new stake in Lincoln Electric in the 2nd quarter valued at $219,000. Campbell & CO Investment Adviser LLC bought a new stake in Lincoln Electric in the 3rd quarter valued at $219,000. Cubist Systematic Strategies LLC increased its holdings in Lincoln Electric by 311.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,470 shares of the industrial products company’s stock valued at $227,000 after acquiring an additional 1,870 shares during the last quarter. Finally, Tradition Capital Management LLC bought a new stake in Lincoln Electric in the 4th quarter valued at $232,000. Institutional investors own 64.12% 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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