Colfax Corp (NYSE:CFX) – Investment analysts at Seaport Global Securities reduced their Q4 2017 earnings estimates for Colfax in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will earn $0.42 per share for the quarter, down from their previous forecast of $0.46. Seaport Global Securities also issued estimates for Colfax’s Q1 2018 earnings at $0.36 EPS.
CFX has been the topic of several other research reports. KeyCorp restated a “buy” rating and set a $46.00 price objective on shares of Colfax in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of Colfax from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective on the stock in a report on Tuesday. Citigroup restated a “sell” rating and set a $40.00 price objective (up previously from $39.00) on shares of Colfax in a report on Monday, October 9th. Royal Bank of Canada restated a “buy” rating and set a $44.00 price objective on shares of Colfax in a report on Tuesday, November 7th. Finally, Oppenheimer reiterated a “hold” rating on shares of Colfax in a report on Thursday, November 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.80.
Colfax (NYSE:CFX) traded up $0.32 on Wednesday, reaching $41.41. 721,561 shares of the company’s stock traded hands, compared to its average volume of 630,831. 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 has a 1 year low of $33.31 and a 1 year high of $43.29. The firm has a market capitalization of $5,100.00, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26.
Colfax (NYSE:CFX) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.42 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. Colfax had a net margin of 4.89% and a return on equity of 6.26%. The firm had revenue of $844.50 million for the quarter, compared to the consensus estimate of $901.09 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the company. FNY Managed Accounts LLC purchased a new stake in Colfax during the third quarter worth about $160,000. Prudential Financial Inc. increased its holdings in Colfax by 19.6% during the third quarter. Prudential Financial Inc. now owns 34,755 shares of the industrial products company’s stock worth $1,447,000 after buying an additional 5,700 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in Colfax during the second quarter worth about $1,154,000. BlackRock Inc. increased its holdings in Colfax by 1.7% during the second quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock worth $164,353,000 after buying an additional 70,676 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Colfax during the second quarter worth about $327,000. Institutional investors own 74.86% of the company’s stock.
In other news, EVP Daniel A. Pryor sold 53,333 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total value of $2,034,653.95. Following the completion of the sale, the executive vice president now owns 93,557 shares in the company, valued at $3,569,199.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.60% of the company’s stock.
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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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