Colfax (CFX) Upgraded to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Colfax (NYSE:CFX) from a hold rating to a strong-buy rating in a report released on Tuesday. Zacks Investment Research currently has $47.00 target price on the industrial products company’s stock.

According to Zacks, “In a month, Colfax's shares have outperformed the industry. We believe that Colfax is poised to benefit from its inorganic initiatives, solid product portfolio and cost-saving strategies. In December, the company completed divesting its Fluid Handling business to CIRCOR. For 2017 (results not yet released), the company maintained its adjusted earnings guidance at $1.65-$1.75 per share. It anticipates gaining from ESAB and Howden brands as well as from acquired businesses in 2018. These aspects are likely to boost 2018 earnings per share from continuing operations by more than 20% over 2017 prediction. Adjusted earnings for the year are anticipated to in the $2.00-$2.15 per share range. Earnings estimates on the stock increased for 2018 in the last 60 days.”

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada reiterated a buy rating and set a $45.00 price objective on shares of Colfax in a research report on Wednesday, September 27th. KeyCorp reiterated a buy rating and set a $46.00 price objective on shares of Colfax in a research report on Tuesday, September 26th. Cowen restated a buy rating and issued a $50.00 target price on shares of Colfax in a research report on Tuesday, September 26th. Stifel Nicolaus restated a buy rating and issued a $50.00 target price on shares of Colfax in a research report on Tuesday, October 17th. Finally, Longbow Research upgraded Colfax from a neutral rating to a buy rating in a research report on Tuesday, November 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $45.80.

Shares of Colfax (NYSE CFX) traded up $0.35 during trading on Tuesday, reaching $41.76. The company had a trading volume of 375,354 shares, compared to its average volume of 766,408. Colfax has a 52-week low of $33.31 and a 52-week high of $43.29. The stock has a market capitalization of $5,140.00, a P/E ratio of 33.68, a price-to-earnings-growth ratio of 1.59 and a beta of 1.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.80.

Colfax (NYSE:CFX) last announced its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.42 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.42. Colfax had a return on equity of 6.26% and a net margin of 4.89%. The firm had revenue of $844.50 million for the quarter, compared to the consensus estimate of $901.09 million. During the same quarter last year, the business posted $0.39 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. equities analysts predict that Colfax will post 1.72 EPS for the current fiscal year.

In other Colfax news, EVP Daniel A. Pryor sold 53,333 shares of Colfax stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.15, for a total value of $2,034,653.95. Following the sale, the executive vice president now owns 93,557 shares in the company, valued at $3,569,199.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.60% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of CFX. Vanguard Group Inc. raised its holdings in shares of Colfax by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,625,006 shares of the industrial products company’s stock valued at $260,827,000 after buying an additional 28,081 shares during the period. BlackRock Inc. raised its holdings in shares of Colfax by 1.7% in the 2nd quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock valued at $164,353,000 after buying an additional 70,676 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Colfax by 97.2% in the 3rd quarter. Wells Fargo & Company MN now owns 2,959,647 shares of the industrial products company’s stock valued at $123,239,000 after buying an additional 1,458,683 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Colfax by 82.2% in the 3rd quarter. Victory Capital Management Inc. now owns 2,897,556 shares of the industrial products company’s stock valued at $120,655,000 after buying an additional 1,306,927 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Colfax by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,737,287 shares of the industrial products company’s stock valued at $113,984,000 after buying an additional 10,709 shares during the period. Institutional investors own 74.86% of the company’s stock.

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Colfax Company Profile

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.

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