Colfax Corp Receives Neutral Rating from Zacks (CFX)
Colfax Corp (NYSE:CFX)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Monday, Stock Ratings Network.com reports. They currently have a $59.00 price target on the stock. Zacks‘ price objective suggests a potential upside of 4.87% from the stock’s previous close.
Zacks‘ analyst wrote, “Colfax Corporation’s earnings per share for the second quarter 2013 came in at $0.54, up 60.0% year over year and $0.01 above the Zacks Consensus Estimate. Revenue grew 2.7% due to solid contributions from acquisitions, more than offsetting weakness in organic business and negative foreign currency translation impact. Backlogs were strong at the end of the quarter while orders were down year over year. Adjusted operating margin expanded 160 basis points to 10.9%. Going forward, acquisitions are anticipated to play a key role. Upon completion of the acquisition of the Global Infrastructure and Industry (GII) business of Flakt Woods Group, Colfax’s Howden business will be strengthened further with the addition of GII’s broad product portfolio and large customer base. Despite all the positives, risks arising from competition, foreign currency translation, among others raises our concern. Thus at current levels, we maintain a Neutral recommendation on the stock.”
Colfax Corp (NYSE:CFX) traded down 0.07% on Monday, hitting $56.22. 43,339 shares of the company’s stock traded hands. Colfax Corp has a one year low of $33.14 and a one year high of $57.49. The stock has a 50-day moving average of $54.24 and a 200-day moving average of $50.36. The company has a market cap of $5.722 billion and a P/E ratio of 59.66.
Colfax Corp (NYSE:CFX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company posted $0.35 earnings per share. Colfax Corp’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that Colfax Corp will post $2.01 earnings per share for the current fiscal year.
A number of other firms have also recently commented on CFX. Analysts at Janney Montgomery Scott raised their price target on shares of Colfax Corp (NYSE:CFX) from $37.00 to $39.00 in a research note to investors on Tuesday, July 30th. They now have a “neutral” rating on the stock. Separately, analysts at Global Hunter Securities raised their price target on shares of Colfax Corp (NYSE:CFX) from $40.00 to $45.00 in a research note to investors on Monday, July 29th. They now have a “neutral” rating on the stock. Finally, analysts at Barclays Capital raised their price target on shares of Colfax Corp (NYSE:CFX) from $41.00 to $44.00 in a research note to investors on Friday, July 26th. They now have an “equal weight” rating on the stock. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.29.
Colfax Corporation (NYSE:CFX) is a global industrial manufacturing and engineering company.
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