Colfax Corporation (NYSE:CFX) – Investment analysts at Gabelli lifted their FY2021 earnings per share estimates for shares of Colfax Corporation in a research report issued on Monday. Gabelli analyst M. Trusz now expects that the industrial products company will earn $2.80 per share for the year, up from their previous estimate of $2.75.
Colfax Corporation (NYSE:CFX) last posted its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $965.83 million during the quarter, compared to analysts’ expectations of $940.31 million. Colfax Corporation had a return on equity of 6.40% and a net margin of 4.35%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS.
A number of other equities analysts have also issued reports on CFX. Royal Bank Of Canada reissued a “buy” rating and issued a $44.00 price objective on shares of Colfax Corporation in a report on Monday, April 17th. Barclays PLC increased their price objective on Colfax Corporation from $38.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Colfax Corporation in a report on Sunday, May 7th. Robert W. Baird increased their price objective on Colfax Corporation from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, May 8th. Finally, Zacks Investment Research raised Colfax Corporation from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective for the company in a report on Tuesday, May 16th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Colfax Corporation presently has an average rating of “Buy” and an average target price of $46.00.
Colfax Corporation (NYSE CFX) traded down 1.04% during mid-day trading on Tuesday, hitting $40.85. The stock had a trading volume of 552,415 shares. The company has a 50-day moving average of $39.92 and a 200-day moving average of $39.54. Colfax Corporation has a 12-month low of $27.75 and a 12-month high of $42.75. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 32.14 and a beta of 1.37.
A number of large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in Colfax Corporation during the fourth quarter worth $256,000. AQR Capital Management LLC purchased a new stake in Colfax Corporation during the fourth quarter worth $590,000. UBS Asset Management Americas Inc. increased its stake in Colfax Corporation by 25.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,034,372 shares of the industrial products company’s stock worth $37,164,000 after buying an additional 208,083 shares during the period. Teachers Advisors LLC increased its stake in Colfax Corporation by 9.3% in the fourth quarter. Teachers Advisors LLC now owns 1,593,625 shares of the industrial products company’s stock worth $57,259,000 after buying an additional 135,142 shares during the period. Finally, DAVENPORT & Co LLC increased its stake in Colfax Corporation by 0.3% in the first quarter. DAVENPORT & Co LLC now owns 1,751,597 shares of the industrial products company’s stock worth $65,073,000 after buying an additional 5,945 shares during the period. 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 stock was sold at an average price of $40.14, for a total value of $436,803.48. Following the completion of the sale, the senior vice president now directly owns 40,907 shares in the company, valued at $1,642,006.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 11,547 shares of company stock valued at $463,265 over the last 90 days. 10.60% of the stock is currently 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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