KeyCorp Weighs in on Colfax Corp’s FY2018 Earnings (CFX)
Colfax Corp (NYSE:CFX) – Investment analysts at KeyCorp reduced their FY2018 earnings per share (EPS) estimates for Colfax in a note issued to investors on Tuesday. KeyCorp analyst J. Hammond now forecasts that the industrial products company will earn $2.10 per share for the year, down from their previous forecast of $2.15. KeyCorp currently has a “Overweight” rating and a $44.00 target price on the stock.
Several other analysts have also recently issued reports on the stock. Royal Bank of Canada restated a “buy” rating and set a $44.00 target price on shares of Colfax in a research report on Tuesday, November 7th. Zacks Investment Research cut shares of Colfax from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Robert W. Baird restated a “buy” rating and set a $50.00 target price on shares of Colfax in a research report on Friday, October 27th. Stifel Nicolaus restated a “buy” rating and set a $44.00 target price on shares of Colfax in a research report on Monday, December 11th. Finally, Cowen lowered shares of Colfax from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Colfax presently has a consensus rating of “Buy” and an average price target of $44.40.
Colfax (NYSE:CFX) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $874.00 million for the quarter, compared to analysts’ expectations of $894.02 million. Colfax had a net margin of 4.28% and a return on equity of 6.11%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 EPS.
In other Colfax news, EVP Daniel A. Pryor sold 53,333 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total value of $2,034,653.95. Following the transaction, the executive vice president now directly owns 93,557 shares in the company, valued at approximately $3,569,199.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP A. Lynne Puckett sold 7,270 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total transaction of $305,412.70. The disclosure for this sale can be found here. Corporate insiders own 10.60% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Toronto Dominion Bank bought a new position in Colfax in the 2nd quarter worth about $118,000. The Manufacturers Life Insurance Company grew its stake in Colfax by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 251 shares in the last quarter. FNY Managed Accounts LLC bought a new position in Colfax in the 3rd quarter worth about $160,000. Valeo Financial Advisors LLC bought a new position in Colfax in the 3rd quarter worth about $177,000. Finally, Godshalk Welsh Capital Management Inc. bought a new position in Colfax in the 3rd quarter worth about $206,000. Institutional investors and hedge funds own 74.66% of the company’s stock.
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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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