Colfax Corp (CFX) Gets a Buy Rating from Oppenheimer

Oppenheimer analyst Bryan Blair maintained a Buy rating on Colfax Corp (CFX) today and set a price target of $32. The company’s shares closed on Friday at $26.32.

Blair noted:

“CFX reported 4Q18 cash EPS of $0.69 vs. our/consensus $0.62/0.63E, with in- line net operating performance (FabTech slightly above expectations, AGH below) lifted by favorable below-the-line items. The quarter was highlighted by continued +LDD FabTech core growth (solid momentum into 2019), strong sequential and y/y improvement in AGH profitability, and sustained AGH order acceleration. Importantly, CFX has secured all needed financing for its DJO acquisition (anticipated 1Q close) and the AGH sale process was noted as “well underway” and “moving with speed.” Given solid legacy business trends and traction on strategic portfolio management (both DJO and AGH transactions), we are incrementally confident that CFX is on its targeted path to less cyclicality, higher margins, more predictable cash flow, and enhanced runway for M&A value creation.”

According to, Blair is a 3-star analyst with an average return of 3.2% and a 60.6% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Carlisle Companies Incorporated, Lincoln Electric Holdings, and Watts Water Technologies.

Colfax Corp has an analyst consensus of Moderate Buy, with a price target consensus of $28.50, representing an 8.3% upside. In a report issued on February 13, Robert W. Baird also maintained a Buy rating on the stock with a $32 price target.

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Colfax Corp’s market cap is currently $3.09B and has a P/E ratio of 21.93. The company has a Price to Book ratio of 0.94.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock.

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Colfax Corp. is an industrial manufacturing and engineering company, which engages in the provision of gas and fluid handling; and fabrication technology products and services to commercial and governmental customers. The firm distributes its services through the Howden, ESAB, and Colfax Fluid Handling brand names.

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