Colfax (NYSE:CFX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, January 9th. The firm currently has a $47.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 20.51% from the company’s current price.
According to Zacks, “In a month, Colfax's shares have outperformed the industry. We believe that Colfax is poised to benefit from its inorganic initiatives, solid product portfolio and cost-saving strategies. In December, the company completed divesting its Fluid Handling business to CIRCOR. For 2017 (results not yet released), the company maintained its adjusted earnings guidance at $1.65-$1.75 per share. It anticipates gaining from ESAB and Howden brands as well as from acquired businesses in 2018. These aspects are likely to boost 2018 earnings per share from continuing operations by more than 20% over 2017 prediction. Adjusted earnings for the year are anticipated to in the $2.00-$2.15 per share range. Earnings estimates on the stock increased for 2018 in the last 60 days.”
Several other analysts have also recently weighed in on CFX. Stifel Nicolaus reissued 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 reissued a “buy” rating and set a $45.00 price target on shares of Colfax in a report on Wednesday, September 27th. Cowen reissued a “buy” rating and set a $50.00 price target on shares of Colfax in a report on Tuesday, September 26th. KeyCorp reissued a “buy” rating and set a $46.00 price target on shares of Colfax in a report on Tuesday, September 26th. Finally, Oppenheimer reissued a “hold” rating on shares of Colfax in a report on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $46.20.
Colfax (CFX) opened at $39.00 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $4,800.00, a PE ratio of 31.45, a P/E/G ratio of 1.48 and a beta of 1.17. Colfax has a fifty-two week low of $33.31 and a fifty-two week high of $43.29.
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, meeting the Zacks’ consensus estimate of $0.42. Colfax had a return on equity of 6.26% and a net margin of 4.89%. The company had revenue of $844.50 million during the quarter, compared to analysts’ expectations of $901.09 million. During the same period last year, the firm posted $0.39 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. analysts anticipate that Colfax will post 1.75 EPS for the current year.
In related news, SVP A. Lynne Puckett sold 7,270 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total transaction of $305,412.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Daniel A. Pryor sold 53,333 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.15, for a total value of $2,034,653.95. Following the sale, the executive vice president now owns 93,557 shares in the company, valued at approximately $3,569,199.55. The disclosure for this sale can be found here. Insiders own 10.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. M&T Bank Corp lifted its holdings in Colfax by 0.7% during the 2nd quarter. M&T Bank Corp now owns 5,510 shares of the industrial products company’s stock worth $216,000 after buying an additional 41 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Colfax by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 251 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Colfax by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 323 shares during the period. Legal & General Group Plc lifted its stake in shares of Colfax by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 93,745 shares of the industrial products company’s stock valued at $3,687,000 after purchasing an additional 773 shares during the period. Finally, Eqis Capital Management Inc. lifted its stake in shares of Colfax by 11.7% in the 3rd quarter. Eqis Capital Management Inc. now owns 13,531 shares of the industrial products company’s stock valued at $563,000 after purchasing an additional 1,415 shares during the period. 74.68% of the stock is currently owned by hedge funds and other institutional investors.
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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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