Colfax (NYSE:CFX) Earns “Buy” Rating from Seaport Global Securities

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Seaport Global Securities reaffirmed their buy rating on shares of Colfax (NYSE:CFX) in a research report report published on Monday, Zacks.com reports. Seaport Global Securities also issued estimates for Colfax’s Q3 2019 earnings at $0.45 EPS, Q4 2019 earnings at $0.56 EPS, Q1 2020 earnings at $0.61 EPS, Q2 2020 earnings at $0.61 EPS, Q3 2020 earnings at $0.61 EPS, Q4 2020 earnings at $0.69 EPS and FY2020 earnings at $2.52 EPS.

Several other research firms have also recently weighed in on CFX. CIBC restated a hold rating and set a $15.00 price target on shares of Colfax in a report on Friday, June 7th. Stifel Nicolaus set a $35.00 price target on shares of Colfax and gave the stock a buy rating in a report on Wednesday, August 7th. Morgan Stanley cut their price target on shares of Colfax from $30.00 to $29.00 and set an equal weight rating on the stock in a report on Wednesday, July 10th. KeyCorp cut their price target on shares of Colfax from $40.00 to $37.00 and set an overweight rating on the stock in a report on Wednesday, August 7th. Finally, Raymond James restated a buy rating and set a $21.00 price target on shares of Colfax in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. Colfax has an average rating of Buy and an average target price of $29.75.

Colfax stock opened at $25.33 on Monday. Colfax has a fifty-two week low of $18.95 and a fifty-two week high of $37.05. The stock has a market cap of $2.97 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.60. The firm’s 50-day simple moving average is $26.97 and its 200 day simple moving average is $27.34. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.90 and a current ratio of 2.27.

Colfax (NYSE:CFX) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.04. Colfax had a negative net margin of 11.76% and a positive return on equity of 8.69%. The business had revenue of $908.65 million for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the company earned $0.61 earnings per share. The firm’s revenue for the quarter was up 62.0% compared to the same quarter last year. As a group, analysts predict that Colfax will post 1.95 EPS for the current fiscal year.

In other Colfax news, CFO Christopher M. Hix sold 4,750 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $27.08, for a total value of $128,630.00. Following the transaction, the chief financial officer now directly owns 29,841 shares in the company, valued at $808,094.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew L. Trerotola sold 18,589 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $28.51, for a total transaction of $529,972.39. Following the completion of the transaction, the chief executive officer now owns 225,604 shares in the company, valued at $6,431,970.04. The disclosure for this sale can be found here. 12.00% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the stock. Nuveen Asset Management LLC bought a new position in shares of Colfax in the 2nd quarter worth $12,770,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Colfax by 36.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,527,091 shares of the industrial products company’s stock worth $575,374,000 after buying an additional 5,537,747 shares during the last quarter. Argent Capital Management LLC bought a new position in shares of Colfax in the 2nd quarter worth $1,694,000. UBS Asset Management Americas Inc. increased its holdings in shares of Colfax by 9.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 143,524 shares of the industrial products company’s stock worth $4,023,000 after buying an additional 11,982 shares during the last quarter. Finally, Front Street Capital Management Inc. increased its holdings in shares of Colfax by 28.4% in the 2nd quarter. Front Street Capital Management Inc. now owns 189,897 shares of the industrial products company’s stock worth $5,323,000 after buying an additional 41,965 shares during the last quarter. Institutional investors own 94.08% of the company’s stock.

Colfax Company Profile

Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.

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Analyst Recommendations for Colfax (NYSE:CFX)

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