Equities research analysts predict that Colfax Corp (NYSE:CFX) will announce $978.16 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Colfax’s earnings, with the lowest sales estimate coming in at $960.30 million and the highest estimate coming in at $1.01 billion. Colfax reported sales of $874.08 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.9%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, February 13th.
According to Zacks, analysts expect that Colfax will report full year sales of $3.66 billion for the current financial year, with estimates ranging from $3.64 billion to $3.69 billion. For the next financial year, analysts expect that the company will post sales of $3.82 billion, with estimates ranging from $3.66 billion to $3.87 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Colfax.
A number of analysts have recently issued reports on the stock. Oppenheimer reissued a “buy” rating and issued a $37.00 price target (down from $42.00) on shares of Colfax in a research report on Thursday, October 25th. ValuEngine lowered shares of Colfax from a “sell” rating to a “strong sell” rating in a research report on Friday, October 19th. Robert W. Baird reissued a “buy” rating and issued a $35.00 price target on shares of Colfax in a research report on Monday, October 29th. Zacks Investment Research reissued a “buy” rating and issued a $22.00 price target on shares of Colfax in a research report on Monday, December 31st. Finally, Argus reduced their price target on shares of Colfax from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. Colfax has an average rating of “Hold” and a consensus target price of $30.93.
In related news, CEO Ian Brander sold 3,232 shares of the stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $26.18, for a total value of $84,613.76. Following the transaction, the chief executive officer now owns 26,136 shares in the company, valued at $684,240.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP A. Lynne Puckett sold 2,540 shares of the stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $26.18, for a total value of $66,497.20. Following the completion of the transaction, the senior vice president now owns 54,818 shares in the company, valued at approximately $1,435,135.24. The disclosure for this sale can be found here. Insiders sold 28,325 shares of company stock worth $632,843 in the last 90 days. 10.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in CFX. Bank of America Corp DE grew its holdings in Colfax by 6.9% during the second quarter. Bank of America Corp DE now owns 414,243 shares of the industrial products company’s stock valued at $12,696,000 after purchasing an additional 26,616 shares during the last quarter. California Public Employees Retirement System grew its holdings in Colfax by 7.7% during the second quarter. California Public Employees Retirement System now owns 249,252 shares of the industrial products company’s stock valued at $7,640,000 after purchasing an additional 17,825 shares during the last quarter. Jane Street Group LLC acquired a new position in Colfax during the second quarter valued at approximately $231,000. Northern Trust Corp grew its holdings in Colfax by 0.9% during the second quarter. Northern Trust Corp now owns 465,362 shares of the industrial products company’s stock valued at $14,264,000 after purchasing an additional 3,985 shares during the last quarter. Finally, United Services Automobile Association grew its holdings in Colfax by 7.8% during the second quarter. United Services Automobile Association now owns 175,951 shares of the industrial products company’s stock valued at $5,393,000 after purchasing an additional 12,755 shares during the last quarter. Institutional investors own 80.47% of the company’s stock.
Shares of NYSE CFX traded down $0.22 during mid-day trading on Thursday, reaching $24.14. The company had a trading volume of 854,085 shares, compared to its average volume of 1,777,045. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.37. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.66 and a beta of 1.62. Colfax has a 12-month low of $18.95 and a 12-month high of $37.05.
Colfax Company Profile
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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