Weakness Seen in Colfax (CFX): Stock Falls 5.7%

Zacks


Colfax Corporation (CFX) saw a big move in the last trading session, as the company’s shares fell nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent trend for CFX, as the stock is now down over 8% since Jul 1.

The diversified industrial manufacturing and engineering company has seen 1 negative estimate revision over the past month compared to none higher, though the current year earnings consensus hasn’t been in a trend. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, especially on earnings estimates following the recent slump.

CFX currently has a Zacks Rank #3 (Hold).

Investors interested in the General Industrial Machinery industry may consider better-ranked stocks like Blount International Inc. (BLT) and EnPro Industries, Inc. (NPO), and Ingersoll-Rand Plc (IR). While Blount and EnPro carry a Zacks Rank #1 (Strong Buy), Ingersoll-Rand holds a Zacks Rank #2 (Buy).

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