According to Zacks, “We believe that positive impacts from Colfax's diversified product portfolio, business in emerging markets and cost-saving strategies are more than offset by risks arising from headwinds including uncertain global economic conditions, unfavorable forex movements and stiff competition. In second-quarter 2016, the company's earnings of $0.41 per share declined 18% year over year while revenues were down 6.6%. For 2016, the company remains cautious of unfavorable operating conditions in some end-markets and forex woes. Over the last 60 days, the Zacks Consensus Estimate for 2017 has been lowered.”
CFX has been the topic of a number of other reports. Cowen and Company reissued a buy rating on shares of Colfax Corp. in a research report on Friday, June 10th. Citigroup Inc. upped their price target on shares of Colfax Corp. from $25.00 to $26.00 and gave the company a sell rating in a report on Friday, July 29th. Finally, Barclays PLC reaffirmed an equal weight rating and issued a $28.00 price target (up from $26.00) on shares of Colfax Corp. in a report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Colfax Corp. currently has an average rating of Hold and a consensus price target of $30.17.
Shares of Colfax Corp. (NYSE:CFX) traded up 3.01% during mid-day trading on Tuesday, hitting $31.11. 101,196 shares of the stock traded hands. Colfax Corp. has a 12-month low of $18.22 and a 12-month high of $33.63. The stock has a market cap of $3.82 billion, a P/E ratio of 30.83 and a beta of 1.60. The firm’s 50 day moving average price is $29.79 and its 200-day moving average price is $28.86.
Colfax Corp. (NYSE:CFX) last posted its earnings results on Thursday, July 28th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Colfax Corp. had a net margin of 3.23% and a return on equity of 5.55%. The business had revenue of $957.20 million for the quarter, compared to analysts’ expectations of $943.50 million. During the same period in the previous year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts predict that Colfax Corp. will post $0.71 earnings per share for the current year.
In other news, SVP A. Lynne Puckett sold 21,037 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $31.00, for a total transaction of $652,147.00. Following the completion of the transaction, the senior vice president now owns 20,370 shares in the company, valued at $631,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Colfax Corp. by 33.4% in the first quarter. BlackRock Inc. now owns 34,681 shares of the company’s stock valued at $991,000 after buying an additional 8,683 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Colfax Corp. during the second quarter valued at approximately $310,000. Goldman Sachs Group Inc. raised its position in Colfax Corp. by 192.5% in the first quarter. Goldman Sachs Group Inc. now owns 280,873 shares of the company’s stock valued at $8,030,000 after buying an additional 184,838 shares in the last quarter. Seven Bridges Advisors LLC raised its position in Colfax Corp. by 21.0% in the second quarter. Seven Bridges Advisors LLC now owns 19,720 shares of the company’s stock valued at $522,000 after buying an additional 3,418 shares in the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in Colfax Corp. during the first quarter valued at approximately $5,255,000. Institutional investors and hedge funds own 78.33% of the company’s stock.
About Colfax Corp.
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid-handling and fabrication technology products and services to commercial and governmental customers around the world under Howden, ESAB and Colfax Fluid Handling brand names. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology.
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