Colfax (NYSE:CFX) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04, Briefing.com reports. Colfax had a net margin of 1.68% and a return on equity of 8.16%. The business had revenue of $908.65 million during the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the business posted $0.61 earnings per share. Colfax’s quarterly revenue was up 62.0% compared to the same quarter last year. Colfax updated its FY 2019 guidance to $2.55-2.65 EPS and its Q3 2019 guidance to $0.45-0.50 EPS.
Shares of CFX traded down $1.91 on Wednesday, hitting $26.54. 1,049,538 shares of the stock traded hands, compared to its average volume of 1,187,425. The stock has a market cap of $2.99 billion, a P/E ratio of 11.49, a PEG ratio of 0.83 and a beta of 1.60. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.53 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $27.11. Colfax has a one year low of $18.95 and a one year high of $37.05.
In related news, CFO Christopher M. Hix sold 4,750 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $27.08, for a total transaction of $128,630.00. Following the completion of the sale, the chief financial officer now owns 29,841 shares of the company’s stock, valued at $808,094.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shyam Kambeyanda sold 11,764 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $26.27, for a total transaction of $309,040.28. Following the sale, the insider now directly owns 51,263 shares of the company’s stock, valued at approximately $1,346,679.01. The disclosure for this sale can be found here. Insiders have sold 35,103 shares of company stock valued at $967,643 in the last three months. 12.00% of the stock is owned by insiders.
CFX has been the subject of a number of analyst reports. CIBC reaffirmed a “hold” rating and set a $15.00 target price on shares of Colfax in a research note on Friday, June 7th. Raymond James reaffirmed a “buy” rating and set a $21.00 target price on shares of Colfax in a research note on Thursday, May 2nd. ValuEngine downgraded shares of Colfax from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Morgan Stanley decreased their target price on shares of Colfax from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, KeyCorp decreased their target price on shares of Colfax from $40.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $29.44.
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.
See Also: Cost of Goods Sold (COGS)
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