Colfax Corp (NYSE:CFX) – Gabelli issued their FY2019 EPS estimates for shares of Colfax in a report released on Wednesday, March 13th. Gabelli analyst M. Trusz anticipates that the industrial products company will post earnings per share of $2.55 for the year. Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for Colfax’s FY2020 earnings at $3.05 EPS, FY2021 earnings at $3.40 EPS, FY2022 earnings at $3.80 EPS and FY2023 earnings at $4.20 EPS.
CFX has been the topic of several other reports. Barclays raised shares of Colfax from an “underweight” rating to an “equal weight” rating in a report on Friday. They noted that the move was a valuation call. Raymond James restated a “buy” rating and issued a $25.00 price target on shares of Colfax in a research report on Friday, February 22nd. Oppenheimer reiterated a “buy” rating on shares of Colfax in a research note on Thursday, February 14th. CIBC reiterated an “average” rating and issued a $20.00 target price on shares of Colfax in a research note on Monday, January 14th. Finally, Zacks Investment Research reaffirmed a “buy” rating and set a $22.00 price objective on shares of Colfax in a report on Monday, December 31st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.53.
Colfax (NYSE:CFX) last issued its quarterly earnings data on Wednesday, February 13th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. Colfax had a net margin of 3.82% and a return on equity of 7.79%. The company had revenue of $985.00 million during the quarter, compared to the consensus estimate of $982.49 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year.
In other Colfax news, CEO Matthew L. Trerotola sold 22,553 shares of the stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $21.36, for a total transaction of $481,732.08. Following the transaction, the chief executive officer now owns 244,193 shares in the company, valued at $5,215,962.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ian Brander sold 4,260 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $27.01, for a total value of $115,062.60. Following the transaction, the chief executive officer now owns 21,876 shares in the company, valued at approximately $590,870.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,479 shares of company stock valued at $667,444. 10.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its stake in Colfax by 32.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 114,158 shares of the industrial products company’s stock worth $4,116,000 after purchasing an additional 28,014 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Colfax by 10.1% in the 3rd quarter. Wells Fargo & Company MN now owns 364,927 shares of the industrial products company’s stock worth $13,159,000 after buying an additional 33,613 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Colfax by 39.1% in the 3rd quarter. Gamco Investors INC. ET AL now owns 18,184 shares of the industrial products company’s stock worth $656,000 after buying an additional 5,107 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Colfax in the 3rd quarter worth $799,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Colfax in the 3rd quarter worth $3,601,000. 79.83% of the stock is owned by institutional investors.
Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.
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