Colfax (CFX) Rating Increased to Buy at Gabelli

Gabelli upgraded shares of Colfax (NYSE:CFX) from a hold rating to a buy rating in a research report report published on Wednesday, February 7th, MarketBeat.com 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, FY2021 earnings at $2.70 EPS and FY2022 earnings at $2.90 EPS. The analysts noted that the move was a valuation call.

A number of other equities analysts have also commented on the stock. KeyCorp cut their price target on shares of Colfax from $46.00 to $44.00 and set an overweight rating on the stock in a report on Wednesday, February 7th. Stifel Nicolaus cut their price target on shares of Colfax from $48.00 to $40.00 and set a buy rating on the stock in a report on Wednesday, February 7th. Zacks Investment Research upgraded shares of Colfax from a hold rating to a strong-buy rating and set a $47.00 price target on the stock in a report on Tuesday, January 9th. Oppenheimer reiterated a hold rating on shares of Colfax in a report on Thursday, November 30th. Finally, Longbow Research upgraded shares of Colfax from a neutral rating to a buy rating in a report on Tuesday, November 21st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $44.40.

Colfax (NYSE:CFX) traded down $0.16 during midday trading on Wednesday, hitting $33.06. 620,093 shares of the company’s stock were exchanged, compared to its average volume of 908,844. The company has a market capitalization of $4,062.18, a PE ratio of 27.36, a PEG ratio of 1.16 and a beta of 1.17. Colfax has a 12-month low of $31.50 and a 12-month high of $43.29. The company has a current ratio of 1.80, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38.

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

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 sale, the executive vice president now directly owns 93,557 shares of the company’s stock, valued at $3,569,199.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP A. Lynne Puckett sold 7,270 shares of Colfax stock in a transaction on Tuesday, January 16th. The shares were 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.

A number of institutional investors and hedge funds have recently bought and sold shares of CFX. Toronto Dominion Bank bought a new stake in Colfax in the second quarter valued at $118,000. The Manufacturers Life Insurance Company increased its position in shares of Colfax by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 251 shares in the last quarter. FNY Managed Accounts LLC bought a new stake in shares of Colfax during the third quarter worth about $160,000. Valeo Financial Advisors LLC bought a new stake in shares of Colfax during the third quarter worth about $177,000. Finally, Itau Unibanco Holding S.A. increased its position 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 worth $205,000 after acquiring an additional 3,583 shares in the last quarter. 75.82% of the stock is owned by hedge funds and other 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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