Colfax Corporation (NYSE:CFX) – Investment analysts at Seaport Global Securities lowered their Q3 2017 earnings estimates for shares of Colfax Corporation in a note issued to investors on Friday. Seaport Global Securities analyst R. Cassil now forecasts that the industrial products company will post earnings per share of $0.41 for the quarter, down from their previous estimate of $0.45. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Colfax Corporation’s Q4 2017 earnings at $0.52 EPS, FY2017 earnings at $1.72 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.59 EPS and FY2018 earnings at $2.07 EPS.
Several other research firms have also weighed in on CFX. Zacks Investment Research upgraded shares of Colfax Corporation from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Tuesday, August 1st. Cowen and Company reiterated an “outperform” rating and set a $50.00 target price (up previously from $45.00) on shares of Colfax Corporation in a research note on Friday, July 14th. BidaskClub lowered shares of Colfax Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Robert W. Baird upgraded shares of Colfax Corporation from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $47.00 to $50.00 in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Colfax Corporation in a research note on Tuesday, May 23rd. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Colfax Corporation presently has an average rating of “Buy” and an average price target of $46.00.
Colfax Corporation (NYSE:CFX) last issued its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.43 earnings per share for the quarter, hitting the Zacks’ 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 6.30%. Colfax Corporation’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS.
Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Colfax Corporation by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock valued at $139,000 after buying an additional 323 shares in the last quarter. M&T Bank Corp purchased a new position in Colfax Corporation during the first quarter valued at approximately $214,000. Fox Run Management L.L.C. purchased a new position in Colfax Corporation during the first quarter valued at approximately $251,000. Alambic Investment Management L.P. purchased a new position in Colfax Corporation during the first quarter valued at approximately $254,000. Finally, Russell Investments Group Ltd. purchased a new position in Colfax Corporation during the fourth quarter valued at approximately $256,000. Institutional investors and hedge funds own 77.32% of the company’s stock.
In other news, EVP Daniel A. Pryor sold 3,574 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total transaction of $146,998.62. Following the completion of the transaction, the executive vice president now owns 40,224 shares in the company, valued at $1,654,413.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP A. Lynne Puckett sold 10,882 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $40.14, for a total transaction of $436,803.48. Following the transaction, the senior vice president now owns 40,907 shares of the company’s stock, valued at approximately $1,642,006.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,560 shares of company stock valued at $628,319. 10.60% of the stock is owned by insiders.
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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