Colfax Corp (NYSE:CFX) – Analysts at Gabelli raised their FY2019 EPS estimates for Colfax in a note issued to investors on Tuesday. Gabelli analyst M. Trusz now anticipates that the industrial products company will post earnings of $2.25 per share for the year, up from their previous estimate of $2.00. Gabelli also issued estimates for Colfax’s FY2020 earnings at $2.45 EPS and FY2021 earnings at $2.60 EPS.
Several other research analysts have also recently commented on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $44.00 target price on shares of Colfax in a research report on Monday, December 11th. Oppenheimer reaffirmed a “hold” rating on shares of Colfax in a research report on Thursday, November 30th. Longbow Research raised Colfax from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 21st. Zacks Investment Research cut Colfax from a “hold” rating to a “strong sell” rating in a research report on Friday, November 10th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $44.00 target price on shares of Colfax in a research report on Tuesday, November 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.80.
Colfax (NYSE:CFX) last posted its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $844.50 million during the quarter, compared to analysts’ expectations of $901.09 million. Colfax had a return on equity of 6.26% and a net margin of 4.89%. Colfax’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of CFX. Wells Fargo & Company MN lifted its holdings 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 acquiring an additional 1,458,683 shares during the period. Victory Capital Management Inc. lifted its holdings 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 acquiring an additional 1,306,927 shares during the period. Oak Ridge Investments LLC bought a new position in shares of Colfax during the second quarter valued at $46,085,000. Balyasny Asset Management LLC bought a new position in shares of Colfax during the second quarter valued at $35,722,000. Finally, Lodge Hill Capital LLC lifted its holdings in shares of Colfax by 37.9% during the second quarter. Lodge Hill Capital LLC now owns 2,020,200 shares of the industrial products company’s stock valued at $79,535,000 after acquiring an additional 555,000 shares during the period. 74.86% of the stock is owned by institutional investors.
In other Colfax news, EVP Daniel A. Pryor sold 53,333 shares of Colfax stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.15, for a total transaction of $2,034,653.95. Following the completion of the transaction, the executive vice president now directly owns 93,557 shares of the company’s stock, valued at $3,569,199.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.60% of the stock is currently owned by company insiders.
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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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