Colfax Corporation (NYSE:CFX) updated its FY17 earnings guidance on Monday. The company provided earnings per share guidance of $1.65-1.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.72.
A number of equities analysts have issued reports on the company. KeyCorp reiterated a buy rating and set a $46.00 price target on shares of Colfax Corporation in a research note on Tuesday, September 26th. Wolfe Research assumed coverage on Colfax Corporation in a research note on Tuesday, July 11th. They set a market perform rating for the company. Citigroup Inc. reiterated a sell rating and set a $40.00 price target (up previously from $39.00) on shares of Colfax Corporation in a research note on Monday, October 9th. Zacks Investment Research upgraded Colfax Corporation from a hold rating to a buy rating and set a $46.00 target price on the stock in a research note on Monday, July 17th. Finally, Argus restated a buy rating and issued a $50.00 target price on shares of Colfax Corporation in a research note on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $46.50.
Shares of Colfax Corporation (NYSE CFX) opened at $42.33 on Monday. Colfax Corporation has a 1-year low of $31.33 and a 1-year high of $43.29. The company has a quick ratio of 1.31, a current ratio of 1.71 and a debt-to-equity ratio of 0.39. The company has a market cap of $5,208.12, a P/E ratio of 25.97, a P/E/G ratio of 2.57 and a beta of 1.30.
Colfax Corporation (NYSE:CFX) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. 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 company posted $0.39 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. analysts expect that Colfax Corporation will post 1.74 earnings per share for the current fiscal year.
In related news, SVP Stephen Wittig sold 29,189 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $39.30, for a total value of $1,147,127.70. Following the sale, the senior vice president now owns 15,479 shares in the company, valued at $608,324.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.60% of the company’s stock.
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A hedge fund recently raised its stake in Colfax Corporation stock. The Manufacturers Life Insurance Company raised its holdings in shares of Colfax Corporation (NYSE:CFX) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,688 shares of the industrial products company’s stock after acquiring an additional 251 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Colfax Corporation were worth $145,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 76.14% of the company’s stock.
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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