Colfax (NYSE:CFX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday. The brokerage presently has a $47.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.03% from the company’s current price.

According to Zacks, “In a month, Colfax's shares have outperformed the industry. We believe that Colfax is poised to benefit from its inorganic initiatives, solid product portfolio and cost-saving strategies. In December, the company completed divesting its Fluid Handling business to CIRCOR. For 2017 (results not yet released), the company maintained its adjusted earnings guidance at $1.65-$1.75 per share. It anticipates gaining from ESAB and Howden brands as well as from acquired businesses in 2018. These aspects are likely to boost 2018 earnings per share from continuing operations by more than 20% over 2017 prediction. Adjusted earnings for the year are anticipated to in the $2.00-$2.15 per share range. Earnings estimates on the stock increased for 2018 in the last 60 days.”

A number of other analysts have also commented on CFX. Cowen reiterated a “buy” rating and issued a $50.00 price target on shares of Colfax in a research note on Tuesday, September 26th. KeyCorp reiterated a “buy” rating and issued a $46.00 price target on shares of Colfax in a research note on Tuesday, September 26th. Royal Bank of Canada reiterated a “buy” rating and issued a $45.00 price target on shares of Colfax in a research note on Wednesday, September 27th. Citigroup reiterated a “sell” rating and issued a $40.00 price target (up from $39.00) on shares of Colfax in a research note on Monday, October 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price target on shares of Colfax in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Colfax presently has an average rating of “Buy” and a consensus price target of $45.80.

Colfax (CFX) traded up $0.11 during trading hours on Tuesday, reaching $40.86. 700,300 shares of the company’s stock were exchanged, compared to its average volume of 596,760. The company has a market cap of $5,016.97, a price-to-earnings ratio of 28.77, a P/E/G ratio of 1.93 and a beta of 1.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.80. Colfax has a 1-year low of $33.31 and a 1-year high of $43.29.

Colfax (NYSE:CFX) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Colfax had a net margin of 4.89% and a return on equity of 6.26%. The business had revenue of $844.50 million during the quarter, compared to analyst estimates of $901.09 million. During the same period last year, the business earned $0.39 EPS. Colfax’s revenue was up 10.2% compared to the same quarter last year. sell-side analysts anticipate that Colfax will post 1.72 EPS for the current fiscal year.

In related news, EVP Daniel A. Pryor sold 53,333 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total transaction of $2,034,653.95. Following the completion of the sale, the executive vice president now directly owns 93,557 shares in the company, valued at $3,569,199.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. M&T Bank Corp lifted its holdings in Colfax by 0.7% during the second quarter. M&T Bank Corp now owns 5,510 shares of the industrial products company’s stock valued at $216,000 after purchasing an additional 41 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Colfax by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 251 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Colfax by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 323 shares in the last quarter. Legal & General Group Plc lifted its holdings in Colfax by 0.8% during the second quarter. Legal & General Group Plc now owns 93,745 shares of the industrial products company’s stock valued at $3,687,000 after purchasing an additional 773 shares in the last quarter. Finally, Eqis Capital Management Inc. lifted its holdings in Colfax by 11.7% during the third quarter. Eqis Capital Management Inc. now owns 13,531 shares of the industrial products company’s stock valued at $563,000 after purchasing an additional 1,415 shares in the last quarter. Institutional investors own 74.86% of the company’s stock.

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Colfax Company Profile

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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