Colfax Corp (NYSE:CFX) – Research analysts at KeyCorp increased their FY2018 earnings per share estimates for shares of Colfax in a report issued on Thursday. KeyCorp analyst J. Hammond now forecasts that the industrial products company will earn $2.15 per share for the year, up from their prior forecast of $2.10. KeyCorp currently has a “Buy” rating and a $46.00 target price on the stock.
CFX has been the topic of a number of other research reports. Royal Bank of Canada restated a “buy” rating and issued a $45.00 price target on shares of Colfax in a research report on Wednesday, September 27th. Citigroup restated a “sell” rating and issued a $40.00 price target (up previously from $39.00) on shares of Colfax in a research report on Monday, October 9th. Longbow Research upgraded Colfax from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 21st. Cowen cut Colfax from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 18th. Finally, Zacks Investment Research cut Colfax from a “hold” rating to a “strong sell” rating in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $46.20.
Colfax (NYSE:CFX) last issued its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.42 EPS for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $901.09 million. During the same quarter last year, the business earned $0.39 earnings per share. Colfax’s revenue was up 10.2% on a year-over-year basis.
In other Colfax news, EVP Daniel A. Pryor sold 53,333 shares of Colfax stock in a transaction dated 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 transaction, the executive vice president now owns 93,557 shares in the company, valued at $3,569,199.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP A. Lynne Puckett sold 7,270 shares of Colfax stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $42.01, for a total value of $305,412.70. The disclosure for this sale can be found here. Insiders own 10.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Colfax by 0.4% in the second quarter. Vanguard Group Inc. now owns 6,625,006 shares of the industrial products company’s stock valued at $260,827,000 after acquiring an additional 28,081 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Colfax by 1.7% during the second quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock valued at $164,353,000 after purchasing an additional 70,676 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Colfax by 97.2% during the third quarter. Wells Fargo & Company MN now owns 2,959,647 shares of the industrial products company’s stock valued at $123,239,000 after purchasing an additional 1,458,683 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Colfax by 82.2% during the third quarter. Victory Capital Management Inc. now owns 2,897,556 shares of the industrial products company’s stock valued at $120,655,000 after purchasing an additional 1,306,927 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Colfax by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,737,287 shares of the industrial products company’s stock valued at $113,984,000 after purchasing an additional 10,709 shares in the last quarter. Hedge funds and other institutional investors own 74.83% 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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