We believe that Colfax Corporation (NYSE:CFX) is a solid choice for investors seeking exposure in the machinery space. New product innovations, strengthening end-market demand and cost savings from restructuring efforts will be beneficial. Acquired assets and divested business solidifies its core business and add to the company’s investment appeal.
The stock was upgraded to a Zacks Rank #1 (Strong Buy) on Jan 17. It currently has a market capitalization of approximately $5.1 billion.
Why the Upgrade?
Market sentiments are positive for Colfax. In the last month, the company’s shares have yielded 7.4% return, outperforming 4.6% gain of the industry it belongs to.
Also, the company’s earnings estimates for 2018 have been revised upward by six brokerage firms and lowered by one in the last 60 days. The Zacks Consensus Estimate stands at $2.13 for 2018, reflecting increase of 20.3% from the tally 60 days ago.
Colfax Corporation Price and Consensus
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