Colfax Corp (NYSE:CFX) – Investment analysts at Northcoast Research cut their FY2017 earnings per share estimates for shares of Colfax in a research note issued on Thursday. Northcoast Research analyst T. Hayes now expects that the industrial products company will post earnings of $1.69 per share for the year, down from their previous forecast of $1.72. Northcoast Research also issued estimates for Colfax’s Q4 2017 earnings at $0.41 EPS, Q1 2019 earnings at $0.42 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.62 EPS and FY2019 earnings at $2.27 EPS.
Other equities analysts also recently issued reports about the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price objective on shares of Colfax in a report on Tuesday, October 17th. Zacks Investment Research raised shares of Colfax from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Monday, October 9th. Robert W. Baird reissued a “buy” rating and issued a $50.00 price target on shares of Colfax in a research note on Friday, October 27th. Oppenheimer reissued a “hold” rating on shares of Colfax in a research note on Thursday, November 30th. Finally, KeyCorp raised shares of Colfax from a “sector weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a research note on Friday, August 25th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Colfax has a consensus rating of “Hold” and a consensus target price of $45.80.
Colfax (NYSE:CFX) last released its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The company had revenue of $844.50 million for the quarter, compared to analyst estimates of $901.09 million. Colfax had a net margin of 4.89% and a return on equity of 6.26%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $0.39 earnings per share.
In other Colfax news, EVP Daniel A. Pryor sold 53,333 shares of Colfax stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total transaction of $2,034,653.95. Following the completion of the sale, the executive vice president now directly owns 93,557 shares in the company, valued at $3,569,199.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.60% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its stake in Colfax by 421.3% in the second quarter. Russell Investments Group Ltd. now owns 36,442 shares of the industrial products company’s stock worth $1,435,000 after acquiring an additional 29,452 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Colfax by 13.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 444,560 shares of the industrial products company’s stock worth $17,503,000 after acquiring an additional 53,918 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Colfax by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 7,461 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 145 shares during the last quarter. Legal & General Group Plc lifted its stake in Colfax by 0.8% in the second quarter. Legal & General Group Plc now owns 93,745 shares of the industrial products company’s stock worth $3,687,000 after acquiring an additional 773 shares during the last quarter. Finally, Marshall Wace North America L.P. lifted its stake in Colfax by 946.5% in the second quarter. Marshall Wace North America L.P. now owns 263,989 shares of the industrial products company’s stock worth $10,295,000 after acquiring an additional 238,763 shares during the last quarter. Institutional investors and hedge funds own 74.86% of the company’s stock.
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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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