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What: Shares of Colfax
So what: It was an earnings trifecta for Colfax when the company reported sales, earnings, and outlook that topped expectations. Sales reached $186.7 million, earnings per share of $0.32 topped estimates by $0.06, and 2011 earnings guidance was raised to $1.20, to $1.26 per share.
Now what: Sales grew an incredible 52% this quarter, and for the full year the company increased growth guidance to 9% to 11%. At the low end of 2011 estimates, shares now trade at 22 times this year's earnings and momentum looks to be continuing. I think shares have room to run, but I'd like to see an even better value before pushing all of my chips into the stock.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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