Colfax (CFX) Downgraded by ValuEngine to Strong Sell
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.
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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