Colfax Corp (NYSE:CFX) – Stock analysts at Seaport Global Securities reduced their Q1 2018 earnings per share estimates for shares of Colfax in a research note issued on Wednesday. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will post earnings of $0.37 per share for the quarter, down from their previous estimate of $0.42. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Colfax’s Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.62 EPS and Q4 2018 earnings at $0.67 EPS.
CFX has been the subject of a number of other research reports. Royal Bank of Canada restated a “buy” rating and issued a $44.00 price target on shares of Colfax in a research note on Tuesday, November 7th. Cowen lowered shares of Colfax from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 18th. Longbow Research upgraded shares of Colfax from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 21st. Zacks Investment Research lowered shares of Colfax from a “hold” rating to a “strong sell” rating in a research note on Friday, November 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $48.00 price objective (up previously from $44.00) on shares of Colfax in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $44.40.
Colfax (NYSE:CFX) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $874.00 million during the quarter, compared to analyst estimates of $894.02 million. Colfax had a net margin of 4.28% and a return on equity of 6.11%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 earnings per share.
A number of institutional investors have recently added to or reduced their stakes in the business. Centaurus Financial Inc. acquired a new position in shares of Colfax during the fourth quarter valued at $1,063,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Colfax by 225.8% during the fourth quarter. Itau Unibanco Holding S.A. now owns 5,170 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 3,583 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of Colfax by 1.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 303,183 shares of the industrial products company’s stock valued at $12,012,000 after acquiring an additional 4,600 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Colfax by 3.6% during the fourth quarter. Bank of New York Mellon Corp now owns 355,549 shares of the industrial products company’s stock valued at $14,086,000 after acquiring an additional 12,518 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Colfax by 1.9% during the fourth quarter. Swiss National Bank now owns 157,200 shares of the industrial products company’s stock valued at $6,228,000 after acquiring an additional 3,000 shares during the period. 74.66% of the stock is owned by hedge funds and other institutional investors.
In other Colfax news, EVP Daniel A. Pryor sold 53,333 shares of Colfax stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total value of $2,034,653.95. Following the completion of the transaction, the executive vice president now owns 93,557 shares of the company’s stock, valued at $3,569,199.55. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP A. Lynne Puckett sold 7,270 shares of Colfax stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total transaction of $305,412.70. The disclosure for this sale can be found here. Insiders own 10.60% of the company’s stock.
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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.
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