Lincoln Electric Crafts 52-Week High: What's Driving It?
Zacks Investment Research | Jan 16, 2018 09:44PM ET
Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) scaled a 52-week high of $100.68 on Jan 16, eventually closing lower at $99.03. The upswing stemmed from improving end markets.
The company has a market cap of $6.5 billion. Over the last three months, its average volume of shares traded has been approximately 392K. Also, Lincoln Electric surpassed the Zacks Consensus Estimate in three out of the trailing four quarters, with an average positive earnings surprise of 3.65%.
Price Performance
Notably, the stock has gained 8.9% over the past month, higher than the S&P 500’s gain of 3.4%. Lincoln Electric has also outperformed the industry ’s rally of 4.3% during the same time frame, with respect to price performance.
What Led to the 52-Week High?
Around 90% of Lincoln Electric’s revenues are exposed to end-sector applications which are, currently on a positive trend. The company’s focus on commercializing innovative products, relatively stable pricing environment and cost-cutting initiatives will also drive growth.
Lincoln Electric Holdings, Inc. Price and Consensus
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