Colfax (CFX) Lifted to “Buy” at Gabelli

Colfax (NYSE:CFX) was upgraded by equities researchers at Gabelli from a “hold” rating to a “buy” rating in a report released on Wednesday, Marketbeat Ratings reports. Gabelli also issued estimates for Colfax’s FY2018 earnings at $2.20 EPS, FY2019 earnings at $2.35 EPS, FY2020 earnings at $2.55 EPS and FY2021 earnings at $2.70 EPS. The analysts noted that the move was a valuation call.

CFX has been the subject of a number of other research reports. Zacks Investment Research raised Colfax from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research report on Tuesday, January 9th. Royal Bank of Canada reissued a “buy” rating and issued a $44.00 price objective on shares of Colfax in a research report on Tuesday, November 7th. Oppenheimer reissued a “hold” rating on shares of Colfax in a research report on Thursday, November 30th. Robert W. Baird reissued a “buy” rating and issued a $50.00 price objective on shares of Colfax in a research report on Friday, October 27th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price objective on shares of Colfax in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $44.40.

Shares of Colfax (CFX) opened at $32.95 on Wednesday. The company has a current ratio of 1.80, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $4,244.58, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 1.17 and a beta of 1.17. Colfax has a 52-week low of $32.93 and a 52-week high of $43.29.

Colfax (NYSE:CFX) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. The firm had revenue of $874.00 million during the quarter, compared to analysts’ expectations of $894.02 million. Colfax had a return on equity of 6.11% and a net margin of 4.28%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. equities research analysts forecast that Colfax will post 2.12 earnings per share for the current fiscal year.

In other Colfax news, SVP A. Lynne Puckett sold 7,270 shares of Colfax stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total transaction of $305,412.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel A. Pryor sold 53,333 shares of Colfax stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $38.15, for a total value of $2,034,653.95. Following the sale, the executive vice president now directly owns 93,557 shares of the company’s stock, valued at approximately $3,569,199.55. The disclosure for this sale can be found here. Insiders own 10.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Colfax by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,625,006 shares of the industrial products company’s stock worth $260,827,000 after acquiring an additional 28,081 shares during the period. Victory Capital Management Inc. lifted its position in Colfax by 54.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,487,041 shares of the industrial products company’s stock worth $177,776,000 after acquiring an additional 1,589,485 shares during the period. BlackRock Inc. lifted its position in Colfax by 1.7% during the 2nd quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock worth $164,353,000 after acquiring an additional 70,676 shares during the period. Wells Fargo & Company MN lifted its position in Colfax by 97.2% during the 3rd quarter. Wells Fargo & Company MN now owns 2,959,647 shares of the industrial products company’s stock worth $123,239,000 after acquiring an additional 1,458,683 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Colfax by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,737,287 shares of the industrial products company’s stock worth $113,984,000 after acquiring an additional 10,709 shares during the period. 74.66% of the stock is owned by institutional investors.

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About Colfax

Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.

Analyst Recommendations for Colfax (NYSE:CFX)

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