) touched a new 52-week high of $52.63 during its trading session
on Jun 14. This represents an increase of 1.3% over its previous
COLFAX CORP (CFX): Free Stock Analysis Report
GRACO INC (GGG): Free Stock Analysis Report
KAWASAKI HEAVY (KWHIY): Get Free Report
MIDDLEBY CORP (MIDD): Free Stock Analysis
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Colfax closed the trading day on Jun 14 at $52.21, reflecting a
solid year-to-date return of 75.4%. The trading volume for the
session was 0.3 million shares. We believe that this Zacks Rank
#2 (Buy) stock has the potential to experience further upsides,
reflected by the upward revision in earnings estimates over the
past 60 days and the expected growth rate of 49.3% for 2013.
Colfax reported impressive financial results for the first
quarter of 2013 on Apr 25. Adjusted earnings per share came in at
26 cents, up 8.3% over the Zacks Consensus Estimate of 24 cents.
Result also improved 13% year over year due to improved sales and
margins in the quarter.
Revenues grew 6.8% year over year due to higher contribution from
acquisitions, partially offset by a drop in the existing
business, accompanied by foreign currency adjustments. Total
orders in the quarter were $502.1 million, up 0.9% year over
year, whereas total backlog stood at $1,443.4 million, compared
with $1,372.8 million at the end of first quarter 2012.
Additionally, Colfax managed to beat estimates in 3 out of the
trailing 4 quarters with an average earnings surprise of 7.5%.
This, along with impressive results in the last reported quarter,
raised optimism for a better performance ahead.
Estimate Revisions Show Potency
Over the last 60 days, the Zacks Consensus Estimate for Colfax
increased by 7.0% to $2.00 per share for 2013 and grew 3.7% to
$2.53 for 2014.
Other stocks in the industry that are worth considering are
Kawasaki Heavy Industries Ltd.
). While Graco and Kawasaki carry a Zacks Rank #1 (Strong Buy),
Middleby carries a Zacks Rank #2 (Buy).