Gabelli Analysts Boost Earnings Estimates for Colfax Corp (CFX)

Colfax Corp (NYSE:CFX) – Equities research analysts at Gabelli lifted their FY2021 earnings estimates for Colfax in a research note issued on Tuesday, November 20th. Gabelli analyst M. Trusz now forecasts that the industrial products company will earn $3.05 per share for the year, up from their previous forecast of $2.90. Gabelli also issued estimates for Colfax’s FY2022 earnings at $3.40 EPS.

A number of other analysts also recently issued reports on CFX. Oppenheimer reaffirmed a “hold” rating on shares of Colfax in a research note on Monday, August 6th. Argus reduced their price objective on Colfax from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Robert W. Baird reaffirmed a “buy” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Colfax in a research note on Monday, August 6th. Deutsche Bank lifted their price objective on Colfax from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, September 28th. Finally, Stifel Nicolaus lifted their price objective on Colfax from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $34.77.

Shares of CFX opened at $24.68 on Thursday. The company has a market cap of $2.81 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 0.79 and a beta of 1.56. Colfax has a 12-month low of $23.00 and a 12-month high of $42.08. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.37 and a current ratio of 1.83.

Colfax (NYSE:CFX) last issued its earnings results on Thursday, October 25th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $875.37 million for the quarter, compared to the consensus estimate of $893.38 million. Colfax had a return on equity of 6.97% and a net margin of 3.03%.

Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Colfax by 31.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 1,917 shares during the period. State of Alaska Department of Revenue boosted its holdings in Colfax by 40.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,720 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 2,780 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Colfax by 182.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,874 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 3,150 shares during the period. TLP Group LLC boosted its holdings in Colfax by 166,250.0% during the 3rd quarter. TLP Group LLC now owns 3,327 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 3,325 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in Colfax by 36.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 13,077 shares of the industrial products company’s stock valued at $401,000 after acquiring an additional 3,477 shares during the period. Hedge funds and other institutional investors own 78.57% of the company’s stock.

In other news, CEO Ian Brander sold 3,232 shares of Colfax 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 completion of the transaction, the chief executive officer now owns 26,136 shares in the company, valued at approximately $684,240.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP A. Lynne Puckett sold 2,540 shares of Colfax 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 of the company’s stock, valued at approximately $1,435,135.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,892 shares of company stock valued at $183,658. Company insiders own 10.20% of the company’s stock.

About Colfax

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.

Read More: Return on Investment (ROI)

Earnings History and Estimates for Colfax (NYSE:CFX)

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