Colfax Corporation Up 12.7% After Hitting 52-Week High (CFX)

Shares of Richmond, Virginia-based Colfax Corporation CFX trading up 12.7% at $21.29 per share during the Tuesday afternoon trading session. The day's trading range for shares of Colfax Corporation has been between $20.50 and a 52-week high of $21.85 per share. Analysts covering the company's stock give it a consensus price target of $19.29 per share. Volume of 300,000 shares is is already more than triple the daily average volume of 99,000 shares. Colfax Corporation (CFX) announced on Tuesday morning that it easily beat consensus Wall Street expectations. Colfax Corporation announced 4th quarter adjusted earnings per share of 39 cents, on revenue of $166.7 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 33 cents per share, on revenue of $151.92 million. President and Chief Executive Officer Clay Kiefaber said, "We are pleased to report stronger than expected results for the fourth quarter and full year 2010. Both sales and orders on an organic basis were up substantially from the 2009 fourth quarter." Colfax Corporation manufactures positive displacement industrial pumps and valves used in oil & gas, power generation, commercial marine, defense and general industrial markets. Read more from Benzinga's Company news.