Colfax Corporation (NYSE:CFX) – Investment analysts at Northcoast Research lowered their Q3 2017 earnings per share (EPS) estimates for Colfax Corporation in a note issued to investors on Monday. Northcoast Research analyst T. Hayes now expects that the industrial products company will post earnings of $0.37 per share for the quarter, down from their previous estimate of $0.39. Northcoast Research also issued estimates for Colfax Corporation’s Q2 2018 earnings at $0.54 EPS.
A number of other research firms have also issued reports on CFX. Zacks Investment Research upgraded shares of Colfax Corporation from a “hold” rating to a “strong-buy” rating and set a $46.00 price target on the stock in a report on Tuesday, May 16th. BidaskClub lowered shares of Colfax Corporation from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird upgraded shares of Colfax Corporation from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $47.00 to $50.00 in a report on Monday. Barclays PLC boosted their price target on shares of Colfax Corporation from $38.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $44.00 price target on shares of Colfax Corporation in a report on Monday, April 17th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Colfax Corporation has an average rating of “Buy” and a consensus target price of $46.00.
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Shares of Colfax Corporation (CFX) opened at 41.28 on Tuesday. The firm has a 50-day moving average of $39.92 and a 200 day moving average of $39.54. Colfax Corporation has a 1-year low of $27.75 and a 1-year high of $42.75. The stock has a market capitalization of $5.08 billion, a PE ratio of 32.48 and a beta of 1.37.
Colfax Corporation (NYSE:CFX) last released its earnings results on Friday, July 28th. The industrial products company reported $0.43 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. The firm had revenue of $965.83 million during the quarter, compared to analysts’ expectations of $940.31 million. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.40%. Colfax Corporation’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. M&T Bank Corp bought a new position in Colfax Corporation during the first quarter valued at $214,000. Fox Run Management L.L.C. bought a new position in Colfax Corporation during the first quarter valued at $251,000. Alambic Investment Management L.P. bought a new position in Colfax Corporation during the first quarter valued at $254,000. Russell Investments Group Ltd. bought a new position in Colfax Corporation during the fourth quarter valued at $256,000. Finally, Laurion Capital Management LP bought a new position in Colfax Corporation during the first quarter valued at $263,000. Hedge funds and other institutional investors own 77.27% of the company’s stock.
In other Colfax Corporation news, SVP A. Lynne Puckett sold 10,882 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $40.14, for a total value of $436,803.48. Following the transaction, the senior vice president now owns 40,907 shares in the company, valued at approximately $1,642,006.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders sold 11,547 shares of company stock worth $463,265. Company insiders own 10.60% of the company’s stock.
About Colfax Corporation
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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