Colfax Corporation (NYSE:CFX) – Equities research analysts at Seaport Global Securities issued their Q2 2017 earnings estimates for Colfax Corporation in a note issued to investors on Wednesday. Seaport Global Securities analyst R. Cassil anticipates that the industrial products company will post earnings of $0.41 per share for the quarter. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Colfax Corporation’s Q3 2017 earnings at $0.45 EPS, Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $1.76 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.61 EPS and FY2018 earnings at $2.09 EPS.
Colfax Corporation (NYSE:CFX) last released its earnings results on Friday, May 5th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The company had revenue of $845 million for the quarter, compared to analyst estimates of $820.23 million. Colfax Corporation had a net margin of 3.98% and a return on equity of 6.29%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS.
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A number of other brokerages have also recently weighed in on CFX. Zacks Investment Research raised Colfax Corporation from a “hold” rating to a “strong-buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, May 16th. Barclays PLC lifted their price target on Colfax Corporation from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Royal Bank Of Canada reissued a “buy” rating and issued a $44.00 price target on shares of Colfax Corporation in a research note on Monday, April 17th. Robert W. Baird lifted their price target on Colfax Corporation from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday, May 8th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Colfax Corporation in a research note on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $42.29.
Colfax Corporation (NYSE:CFX) opened at 40.18 on Monday. The firm has a 50-day moving average of $40.07 and a 200-day moving average of $38.99. Colfax Corporation has a 12-month low of $24.62 and a 12-month high of $41.99. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 34.34 and a beta of 1.31.
In other news, SVP A. Lynne Puckett sold 10,882 shares of Colfax Corporation stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $40.14, for a total transaction of $436,803.48. Following the completion of the sale, the senior vice president now directly owns 40,907 shares in the company, valued at approximately $1,642,006.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 11,547 shares of company stock valued at $463,265. 10.60% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in CFX. Public Employees Retirement System of Ohio increased its position in shares of Colfax Corporation by 0.5% in the first quarter. Public Employees Retirement System of Ohio now owns 49,985 shares of the industrial products company’s stock worth $1,962,000 after buying an additional 256 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Colfax Corporation by 10.6% in the first quarter. Goldman Sachs Group Inc. now owns 747,503 shares of the industrial products company’s stock worth $29,347,000 after buying an additional 71,410 shares during the last quarter. YG Partners LLC increased its position in shares of Colfax Corporation by 60.8% in the first quarter. YG Partners LLC now owns 88,875 shares of the industrial products company’s stock worth $3,489,000 after buying an additional 33,593 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Colfax Corporation by 1,233.6% in the first quarter. Point72 Asset Management L.P. now owns 904,200 shares of the industrial products company’s stock worth $35,499,000 after buying an additional 836,400 shares during the last quarter. Finally, Bragg Financial Advisors Inc bought a new position in shares of Colfax Corporation during the first quarter worth $371,000. Institutional investors and hedge funds own 77.15% of the company’s stock.
Colfax Corporation Company Profile
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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