In a report released yesterday, Bryan Blair from Oppenheimer reiterated a Buy rating on Colfax Corp (NYSE: CFX), with a price target of $37. The company’s shares closed on Friday at $27.83, close to its 52-week low of $26.25.
Blair commented:
“CFX reported 3Q18 cash EPS of $0.54 vs. our $0.52E, with in-line net operating performance (FabTech light, AGH above expectations) lifted by favorable below- the-line items. FabTech continued to accelerate core growth (trends implying solid momentum into ’19), but EBIT was temporarily pressured by ~$5M in FX (largely South American currency) headwinds in the quarter. With incremental price action resetting FabTech SA profitability and AGH benefiting from seasonally high revenue and accelerating restructuring benefits (implying DD segment margin), we expect materially stronger 4Q core results and positive y/y progression into next year. Adding self-help upside ($15M+ incremental AGH restructuring savings) and ramping M&A contribution (three strategic bolt-ons closed and management continuing to work an active pipeline), we believe CFX is positioned for sustained DD earnings growth.”
According to TipRanks.com, Blair is a 1-star analyst with an average return of -10.5% and a 7.1% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Carlisle Companies Inc.
Currently, the analyst consensus on Colfax Corp is a Moderate Buy with an average price target of $34.40.
See today’s analyst top recommended stocks >>
Based on Colfax Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $31.31 million. In comparison, last year the company had a net profit of $45.86 million.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
