Oppenheimer Gives a Hold Rating to Lincoln Electric Holdings (LECO)

In a report released today, Bryan Blair from Oppenheimer assigned a Hold rating to Lincoln Electric Holdings (LECOResearch Report). The company’s shares closed last Tuesday at $120.46, close to its 52-week high of $121.14.

According to TipRanks.com, Blair is a 4-star analyst with an average return of 15.5% and a 68.2% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Watts Water Technologies, Altra Industrial Motion, and Mueller Water Products.

Currently, the analyst consensus on Lincoln Electric Holdings is a Moderate Buy with an average price target of $115.20, representing a -3.6% downside. In a report released today, Morgan Stanley also maintained a Hold rating on the stock with a $120.00 price target.

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Based on Lincoln Electric Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $669 million and net profit of $58.48 million. In comparison, last year the company earned revenue of $731 million and had a net profit of $72.46 million.

Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LECO in relation to earlier this year.

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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.