Lincoln Electric Holdings, Inc. (NASDAQ:LECO) is one of the stocks that are grabbing investor focus today: sinking -3.56% or (-3.26 points) to $88.25 from its previous close of $91.51. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 186237 contracts so far this session. LECO shares had a relatively better volume day versus average trading capacity of 332.53 thousand shares, but with a 58.67 million float and a 1.88% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for LECO stock indicates that the average analyst price target is $94.22 per share. This means the stock has a potential increase of 6.76% from where the LECO share price has been trading recently which is between $89.8 and $91.69. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $80.
The shorts are running away from Lincoln Electric Holdings, Inc. (LECO) stock. The latest set of short interest data was released on 29 March 2019, and the numbers show a drop in short interest in LECO shares. While short interest still represents only 3.69% of LECO’s float, the number of shares shorted have fallen by -50187. The number of shares shorted fell to 2164330 shares, down from 2214517 shares during the preceding fortnight. With average daily trading volumes at 262179 shares, days to cover increased to about 6.687373 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Lincoln Electric: 1Q Earnings Snapshot” and dated April 22, 2019.
During the recent trading session for Lincoln Electric Holdings, Inc. (NASDAQ:LECO), the company witnessed their stock drop by $-2.06 over a week and surge $6.67 from the price 20 days ago. When compared to their established 52-week high of $97.93, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/21/18. The recent low of $72.28 stood for a -9.88% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.22 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Lincoln Electric Holdings, Inc., the two-week RSI stands at 51.31. This figure suggests that LECO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current LECO readings is similarly very revealing as it has a stochastic reading of 80.02% at this stage. This figure means that LECO share price today is being oversold.
Technical chart claims that Lincoln Electric Holdings, Inc. (LECO) would settle between $92.2/share to $92.89/share level. However, if the stock price goes below the $90.31 mark, then the market for Lincoln Electric Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $89.11 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.21. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Wellington Shields lowered their recommendation on shares of LECO from Gradually Accumulate to Hold in their opinion released on February 15. Vertical Research analysts have lowered their rating of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) stock from Hold to Sell in a separate flash note issued to investors on February 15. Analysts at Jefferies, made their first call for the equity with a Buy recommendation, according to a research note that dated back to January 25.
LECO equity has an average rating of 2.31, with the figure leaning towards a bullish end. 13 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 8 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 7 analysts rated Lincoln Electric Holdings, Inc. (NASDAQ:LECO) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, LECO stock price is currently trading at 15.69X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.65 while for the average stock in the same group, the multiple is 4.28. Lincoln Electric Holdings, Inc. current P/E ratio of 27.22 means it is trading at a premium against its industry’s 24.82. In the past 5 years, this ratio for the stock has been fluctuating between 15.92 and 30.47.
Lincoln Electric Holdings, Inc. (LECO)’s current-quarter revenues are projected to climb by nearly 1.19% to hit $766690, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 3.98% from $3.03 billion to a noteworthy $3.15 billion. At the other end of the current quarter income statement, Lincoln Electric Holdings, Inc. is expected to see its adjusted earnings surge by roughly 11.82% to hit $1.23 per share. For the fiscal year, LECO’s earnings are projected to climb by roughly 9.75% to hit $5.29 per share.