) touched a new 52-week high of $59.10 during its trading session
on Nov 18. This is an increase over the previous high of $59.04
reached on Nov 14.
COLFAX CORP (CFX): Free Stock Analysis Report
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Colfax Corporation closed the trading day on Nov 18 at $57.97,
reflecting a solid year-to-date return of 38.1%. The trading
volume for the session was 0.30 million shares. Further upside
potential exists for this Zacks Rank #3 (Hold) manufacturing and
engineering company, as can be deduced from its earnings growth
rate of 36.5% for the next five years and earnings estimate
revision for 2014.
Colfax Corporation's results in the third quarter 2013 were
impressive. Earnings per share in the quarter came in at 56
cents, up 69.7% over the year-ago quarter and three cents above
the Zacks Consensus Estimate of 53 cents. Shares since the
earnings release on Oct 24 have risen by 3.4%.
Revenue grew by 6.3% year over year on the back of 3.0% gains
from existing businesses and 3.9% contribution from acquisitions,
partially offset by 0.6% negative foreign currency translation
impact. Total orders were up 20.2% year over year while backlog
at the end of the quarter grew by 4.7%.
For 2013, management of Colfax Corporation anticipates adjusted
earnings per share to be within $1.98-$2.03 range versus
$1.95-$2.10 expected earlier. Revenue is expected to be within
$4.12-$4.15 million range.
Also, Colfax Corporation had positive earnings surprises in all
the trailing four quarters, with the average being 6.84%. For
2014, Colfax has an
Estimate Revisions Show Potency
Over the last 30 days, the Zacks Consensus Estimate for Colfax
Corporation has increased by 0.4% to $2.52 for 2014. This also
represented an increase of 26.02% over the year-ago quarter.
Colfax Corporation currently has a market capitalization of $5.9
billion. Other stocks to watch out for in the industry are
), with a Zacks Rank #1 (Strong Buy), and
DXP Enterprises, Inc.
), both of which carry a Zacks Rank #2 (Buy).