Colfax (NYSE:CFX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Colfax (NYSE:CFX) from a sell rating to a hold rating in a research note released on Monday morning, Zacks.com reports. They currently have $41.00 target price on the industrial products company’s stock.

According to Zacks, “In fourth-quarter 2019, Colfax's earnings and revenues surpassed the Zacks Consensus Estimate by 8.9% and 0.7%, respectively. Over the past six months, its shares have outperformed the industry. The company is poised to benefit from productivity actions, product development and business expansion initiatives. Solid momentum in the Medical Technology segment, backed by strength in the reconstructive and prevention & rehabilitation product lines bodes well. Colfax predicts the acquired DJO Global business to grow in a mid-single digit during 2020. For 2020, the company predicts adjusted earnings of $2.10-$2.20. However, rising costs of sales and operating expenses are concerning. Also, high debts expose the company to greater financial obligations. Given its extensive geographic presence, its financials are subject to forex exchange headwinds.”

Several other research firms have also weighed in on CFX. CIBC upgraded shares of Colfax to an outperformer rating and lifted their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 13th. ValuEngine upgraded shares of Colfax from a strong sell rating to a sell rating in a research note on Thursday, February 6th. Goldman Sachs Group assumed coverage on shares of Colfax in a research note on Thursday, January 16th. They issued a buy rating and a $44.00 price objective for the company. Deutsche Bank lifted their price objective on shares of Colfax from $36.00 to $37.00 and gave the company a hold rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird lifted their price objective on shares of Colfax from $39.00 to $42.00 and gave the company an outperform rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. Colfax has an average rating of Buy and an average price target of $32.40.

Shares of NYSE CFX opened at $34.78 on Monday. The company has a market capitalization of $4.44 billion, a P/E ratio of -8.96, a price-to-earnings-growth ratio of 2.25 and a beta of 1.62. Colfax has a 52-week low of $24.35 and a 52-week high of $39.30. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.97 and a current ratio of 1.64. The company’s 50 day moving average price is $37.00 and its 200-day moving average price is $32.73.

Colfax (NYSE:CFX) last issued its quarterly earnings results on Friday, February 21st. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.05. The firm had revenue of $888.40 million for the quarter, compared to the consensus estimate of $885.30 million. Colfax had a negative net margin of 14.45% and a positive return on equity of 9.12%. The company’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 EPS. Analysts forecast that Colfax will post 2.18 earnings per share for the current year.

In other Colfax news, CEO Matthew L. Trerotola sold 22,317 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $36.84, for a total transaction of $822,158.28. Following the completion of the sale, the chief executive officer now owns 203,287 shares in the company, valued at approximately $7,489,093.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Colfax by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 7,093,559 shares of the industrial products company’s stock valued at $258,064,000 after purchasing an additional 24,638 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Colfax by 5.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,893,931 shares of the industrial products company’s stock valued at $84,098,000 after purchasing an additional 153,362 shares in the last quarter. Royce & Associates LP increased its stake in Colfax by 5.7% during the 4th quarter. Royce & Associates LP now owns 2,533,761 shares of the industrial products company’s stock valued at $92,178,000 after purchasing an additional 136,461 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Colfax by 0.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,756,466 shares of the industrial products company’s stock worth $63,900,000 after acquiring an additional 10,623 shares in the last quarter. Finally, River Road Asset Management LLC grew its stake in shares of Colfax by 19.4% in the 4th quarter. River Road Asset Management LLC now owns 1,286,473 shares of the industrial products company’s stock worth $46,802,000 after acquiring an additional 209,000 shares in the last quarter. Institutional investors and hedge funds own 96.41% 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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