Colfax (NYSE:CFX) updated its FY18 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.00-2.15 for the period, compared to the Thomson Reuters consensus estimate of $1.78. Colfax also updated its FY17 guidance to $1.65-1.75 EPS.
A number of brokerages have recently weighed in on CFX. Zacks Investment Research raised shares of Colfax from a hold rating to a strong-buy rating and set a $47.00 price target for the company in a report on Tuesday. Stifel Nicolaus reaffirmed a buy rating and set a $50.00 price target on shares of Colfax in a report on Tuesday, October 17th. Royal Bank of Canada reaffirmed a buy rating and set a $45.00 price target on shares of Colfax in a report on Wednesday, September 27th. Cowen reaffirmed a buy rating and set a $50.00 price target on shares of Colfax in a report on Tuesday, September 26th. Finally, KeyCorp reaffirmed a buy rating and set a $46.00 price target on shares of Colfax in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Colfax presently has an average rating of Buy and a consensus target price of $45.80.
Colfax (CFX) traded up $0.32 during mid-day trading on Thursday, reaching $41.41. 721,561 shares of the company were exchanged, compared to its average volume of 630,831. The firm has a market cap of $5,100.00, a PE ratio of 33.40, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. Colfax has a twelve month low of $33.31 and a twelve month high of $43.29. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.80.
Colfax (NYSE:CFX) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.42. The business had revenue of $844.50 million during the quarter, compared to analysts’ expectations of $901.09 million. Colfax had a net margin of 4.89% and a return on equity of 6.26%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. analysts predict that Colfax will post 1.72 EPS for the current fiscal year.
In related news, EVP Daniel A. Pryor sold 53,333 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total transaction of $2,034,653.95. Following the completion of the transaction, the executive vice president now directly owns 93,557 shares in the company, valued at approximately $3,569,199.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.60% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Colfax stock. The Manufacturers Life Insurance Company raised its holdings in Colfax Corp (NYSE:CFX) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,688 shares of the industrial products company’s stock after acquiring an additional 251 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Colfax were worth $145,000 as of its most recent SEC filing. 74.86% of the stock is currently owned by hedge funds and other institutional investors.
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Colfax Company Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.
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