Colfax (NYSE:CFX) Earns “Buy” Rating from Seaport Global Securities

Seaport Global Securities reaffirmed their buy rating on shares of Colfax (NYSE:CFX) in a research note issued to investors on Monday morning, Zacks.com reports. Seaport Global Securities also issued estimates for Colfax’s Q3 2019 earnings at $0.45 EPS, Q4 2019 earnings at $0.56 EPS, Q1 2020 earnings at $0.61 EPS, Q2 2020 earnings at $0.61 EPS, Q3 2020 earnings at $0.61 EPS, Q4 2020 earnings at $0.69 EPS and FY2020 earnings at $2.52 EPS.

Other research analysts have also issued reports about the stock. Deutsche Bank set a $28.00 price target on shares of Colfax and gave the stock a hold rating in a research note on Wednesday, July 10th. CIBC reiterated a hold rating and issued a $15.00 price target on shares of Colfax in a research note on Friday, June 7th. KeyCorp decreased their price target on shares of Colfax from $40.00 to $37.00 and set an overweight rating for the company in a research note on Wednesday, August 7th. Morgan Stanley decreased their price target on shares of Colfax from $30.00 to $29.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus set a $35.00 price target on shares of Colfax and gave the stock a buy rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $29.75.

NYSE:CFX opened at $25.33 on Monday. The company has a 50-day moving average price of $26.97 and a 200-day moving average price of $27.34. Colfax has a 12 month low of $18.95 and a 12 month high of $37.05. The company has a current ratio of 2.27, a quick ratio of 1.90 and a debt-to-equity ratio of 1.29. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 1.11 and a beta of 1.60.

Colfax (NYSE:CFX) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The company had revenue of $908.65 million during the quarter, compared to analyst estimates of $1.25 billion. Colfax had a negative net margin of 11.76% and a positive return on equity of 8.69%. Colfax’s quarterly revenue was up 62.0% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. Equities analysts forecast that Colfax will post 1.95 EPS for the current fiscal year.

In other Colfax news, CFO Christopher M. Hix sold 4,750 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $27.08, for a total transaction of $128,630.00. Following the completion of the sale, the chief financial officer now directly owns 29,841 shares in the company, valued at approximately $808,094.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew L. Trerotola sold 18,589 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $28.51, for a total transaction of $529,972.39. Following the sale, the chief executive officer now owns 225,604 shares of the company’s stock, valued at $6,431,970.04. The disclosure for this sale can be found here. 12.00% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in Colfax by 176.4% during the 2nd quarter. Parallel Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 799 shares in the last quarter. Macquarie Group Ltd. bought a new stake in Colfax during the 4th quarter valued at about $27,000. Quadrant Capital Group LLC increased its stake in Colfax by 264.3% during the 1st quarter. Quadrant Capital Group LLC now owns 2,211 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 1,604 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in Colfax during the 2nd quarter valued at about $83,000. Finally, Toth Financial Advisory Corp bought a new stake in Colfax during the 1st quarter valued at about $128,000. Institutional investors and hedge funds own 94.08% of the company’s stock.

Colfax Company Profile

Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.

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Analyst Recommendations for Colfax (NYSE:CFX)

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