ValuEngine cut shares of Colfax (NYSE:CFX) from a sell rating to a strong sell rating in a report released on Friday morning.

A number of other research analysts have also issued reports on CFX. Zacks Investment Research lowered Colfax from a hold rating to a sell rating in a research report on Monday, July 9th. MED initiated coverage on Colfax in a research report on Thursday, July 12th. They set a hold rating and a $33.00 target price on the stock. Deutsche Bank set a $33.00 target price on Colfax and gave the company a hold rating in a research report on Thursday, July 12th. Oppenheimer reiterated a hold rating on shares of Colfax in a research report on Monday, August 6th. Finally, Robert W. Baird reiterated a buy rating and set a $38.00 target price (up previously from $36.00) on shares of Colfax in a research report on Monday, August 6th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $36.10.

Colfax stock traded down $0.77 during mid-day trading on Friday, hitting $31.09. The company had a trading volume of 603,442 shares, compared to its average volume of 665,150. The company has a current ratio of 1.81, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30. Colfax has a 12-month low of $28.80 and a 12-month high of $43.29. The firm has a market cap of $3.79 billion, a PE ratio of 17.87, a P/E/G ratio of 1.11 and a beta of 1.35.

Colfax (NYSE:CFX) last released its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. Colfax had a return on equity of 6.64% and a net margin of 3.47%. The business had revenue of $925.29 million for the quarter, compared to analyst estimates of $939.07 million. During the same quarter in the prior year, the firm posted $0.45 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Colfax will post 2.25 EPS for the current year.

In other news, CEO Matthew L. Trerotola sold 20,488 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $33.32, for a total transaction of $682,660.16. Following the transaction, the chief executive officer now owns 266,746 shares in the company, valued at approximately $8,887,976.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its stake in Colfax by 31.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 1,917 shares during the last quarter. Brown Advisory Inc. raised its stake in Colfax by 3.1% in the 1st quarter. Brown Advisory Inc. now owns 74,252 shares of the industrial products company’s stock valued at $2,369,000 after purchasing an additional 2,266 shares during the last quarter. Royal Bank of Canada raised its stake in Colfax by 3.1% in the 1st quarter. Royal Bank of Canada now owns 90,748 shares of the industrial products company’s stock valued at $2,894,000 after purchasing an additional 2,709 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Colfax by 40.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,720 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 2,780 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Colfax by 182.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,874 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 3,150 shares during the last quarter. 78.84% of the stock is owned by hedge funds and other institutional investors.

Colfax Company Profile

Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.

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Analyst Recommendations for Colfax (NYSE:CFX)

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