Colfax Corporation (CFX) Rating Lowered to Hold at BidaskClub
BidaskClub lowered shares of Colfax Corporation (NYSE:CFX) from a buy rating to a hold rating in a research note issued to investors on Friday.
Other equities analysts have also issued reports about the stock. Seaport Global Securities reiterated a buy rating on shares of Colfax Corporation in a research note on Wednesday, June 14th. Royal Bank Of Canada reiterated a buy rating and issued a $44.00 price target on shares of Colfax Corporation in a research note on Monday, April 17th. Zacks Investment Research upgraded shares of Colfax Corporation from a hold rating to a buy rating and set a $46.00 price target on the stock in a research note on Monday, July 17th. Barclays PLC increased their price target on shares of Colfax Corporation from $38.00 to $39.00 and gave the company an equal weight rating in a research note on Wednesday, April 19th. Finally, Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Colfax Corporation in a research note on Sunday, May 7th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $46.00.
Shares of Colfax Corporation (NYSE CFX) opened at 41.28 on Friday. Colfax Corporation has a 1-year low of $27.75 and a 1-year high of $42.75. The company has a 50-day moving average of $39.92 and a 200-day moving average of $39.54. The firm has a market capitalization of $5.08 billion, a PE ratio of 32.48 and a beta of 1.37.
Colfax Corporation (NYSE:CFX) last announced its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The company had revenue of $965.83 million for the quarter, compared to analyst estimates of $940.31 million. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.40%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. Equities research analysts predict that Colfax Corporation will post $1.73 EPS for the current fiscal year.
In other news, SVP A. Lynne Puckett sold 10,882 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $40.14, for a total transaction of $436,803.48. Following the transaction, the senior vice president now directly owns 40,907 shares in the company, valued at $1,642,006.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 11,547 shares of company stock worth $463,265. Insiders own 10.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. NGAM Advisors L.P. raised its position in shares of Colfax Corporation by 19.3% in the second quarter. NGAM Advisors L.P. now owns 13,995 shares of the industrial products company’s stock worth $551,000 after buying an additional 2,263 shares during the period. Russell Investments Group Ltd. raised its position in shares of Colfax Corporation by 421.3% in the second quarter. Russell Investments Group Ltd. now owns 36,442 shares of the industrial products company’s stock worth $1,435,000 after buying an additional 29,452 shares during the period. SeaBridge Investment Advisors LLC raised its position in shares of Colfax Corporation by 7.2% in the second quarter. SeaBridge Investment Advisors LLC now owns 12,177 shares of the industrial products company’s stock worth $479,000 after buying an additional 820 shares during the period. Quantitative Systematic Strategies LLC raised its position in shares of Colfax Corporation by 25.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 15,626 shares of the industrial products company’s stock worth $608,000 after buying an additional 3,143 shares during the period. Finally, US Bancorp DE raised its position in shares of Colfax Corporation by 0.9% in the second quarter. US Bancorp DE now owns 27,185 shares of the industrial products company’s stock worth $1,070,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 77.27% of the company’s stock.
Colfax Corporation Company Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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