Lincoln Electric Holdings (LECO) is Downgraded by Wellington Shields to Hold

Lincoln Electric Holdings (LECO) was Downgraded by Wellington Shields to ” Hold”. Earlier the firm had a rating of “Gradually Accumulate ” on the company shares. Wellington Shields advised their investors in a research report released on Aug 24, 2016.

Many Wall Street Analysts have commented on Lincoln Electric Holdings. Lincoln Electric Holdings was Upgraded by Wellington Shields to ” Gradually Accumulate” on Aug 3, 2016. Shares were Reiterated by Wunderlich on Jul 20, 2016 to “Buy” and Lowered the Price Target to $ 75 from a previous price target of $85 .

On the company’s financial health, Lincoln Electric Holdings reported $0.83 EPS for the quarter, based on the information available during the earnings call on Jul 25, 2016. Analyst had a consensus estimate of $0.83. The company had revenue of $592.40 million for the quarter, compared to analysts expectations of $591.56 million. The company’s revenue was down -10.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.95 EPS.

Lincoln Electric Holdings opened for trading at $64.76 and hit $65.24 on the upside on Tuesday, eventually ending the session at $64.9, with a gain of 0.39% or 0.25 points. The heightened volatility saw the trading volume jump to 2,49,439 shares. Company has a market cap of $4,365 M.

In a different news, on Nov 10, 2015, G Russell Lincoln (director) sold 4,167 shares at $60.81 per share price. According to the SEC, on Feb 27, 2015, Robert J Knoll (director) sold 5,373 shares at $69.63 per share price.

Lincoln Electric Holdings Inc. is a manufacturer of welding cutting and brazing products. Welding products include arc welding power sources wire feeding systems robotic welding packages fume extraction equipment consumable electrodes and fluxes. The Company operates in five segments: North America Welding Europe Welding Asia Pacific Welding South America Welding and The Harris Products Group. The Company’s product offering also includes computer numeric controlled (CNC) plasma and oxy-fuel cutting systems and regulators and torches used in oxy-fuel welding cutting and brazing. In addition the Company is also engaged in brazing and soldering alloys activities. The Company has through wholly owned subsidiaries or joint ventures manufacturing facilities located in the United States Brazil Canada China Colombia France Germany India Indonesia Italy Mexico the Netherlands Poland Portugal Russia Turkey the United Kingdom and Venezuela.

Lincoln Electric Holdings

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