) touched a new 52-week high of $63.35 during the trading session
on Dec 24. This is an increase over the previous high of $63.24
reached on Dec 23.
Colfax's shares closed at $63.06 at the end of trading on Dec 24,
with a solid year-to-date return of 50.2%. The volume of shares
traded during that session was 0.89 million shares. Further
upside potential exists for this Zacks Rank #3 (Hold)
manufacturing and engineering company as reflected by its
earnings growth rate of 36.5% for the next five years and
year-over-year growth rate of 30.3% for 2014.
Colfax hosted its Annual Investor Meet on Dec 17, 2013. Post this
event the company's shares rose 2.6% which indicates favorable
impact on the market from the meet.
Colfax provided its expectations for 2014. It anticipates organic
revenue growth within 1%-3%; including 2%-4% growth in Fluid
Handling, 4%-6% growth in Howden and 1%-2% growth in Fabrication
Technology. Total revenue is anticipated to be within the
$4.5-$4.625 billion range.
Adjusted earnings per share are estimated within the $2.40-$2.65
band, excluding 43 cents from restructuring costs and 6 cents
from tax adjustments. This is an increase over the earnings per
share range of $1.98-$2.03 for 2013.
Colfax also reiterated its long-term targets which include
organic growth achievement of 1-2% above GDP growth, operating
margins in the mid-teens level and free cash flow in excess of
Estimate Revisions Show Potency
Over the last 30 days, the Zacks Consensus Estimate for Colfax
Corporation has increased by 3.2% to $2.60 for 2014. This
indicates improved performances in the coming quarters.
Colfax Corporation currently has a market capitalization of $6.4
billion. Some better-ranked companies in the same industry
DXP Enterprises, Inc.
). While Xylem carries a Zacks Rank #1 (Strong Buy), both DXP and
Middleby hold a Zacks Rank #2 (Buy).
COLFAX CORP (CFX): Free Stock Analysis Report
DXP ENTERPRISES (DXPE): Free Stock Analysis
MIDDLEBY CORP (MIDD): Free Stock Analysis
XYLEM INC (XYL): Free Stock Analysis Report
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