Colfax Corporation (CFX) Rating Reiterated by Citigroup Inc.
Citigroup Inc. reaffirmed their sell rating on shares of Colfax Corporation (NYSE:CFX) in a research note published on Monday. They currently have a $40.00 price target on the industrial products company’s stock, up from their prior price target of $39.00.
Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Colfax Corporation from a buy rating to a hold rating in a research report on Monday, July 10th. Argus restated a buy rating and issued a $50.00 target price on shares of Colfax Corporation in a report on Tuesday, August 29th. Seaport Global Securities restated a buy rating on shares of Colfax Corporation in a report on Wednesday, June 14th. Wolfe Research initiated coverage on shares of Colfax Corporation in a report on Tuesday, July 11th. They issued a market perform rating for the company. Finally, KeyCorp upgraded shares of Colfax Corporation from a sector weight rating to an overweight rating and set a $46.00 target price for the company in a report on Friday, August 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $46.00.
Shares of Colfax Corporation (CFX) opened at 42.03 on Monday. The stock’s 50 day moving average is $41.07 and its 200-day moving average is $40.12. Colfax Corporation has a 12-month low of $28.83 and a 12-month high of $42.93. The company has a market capitalization of $5.17 billion, a P/E ratio of 33.07 and a beta of 1.32.
Colfax Corporation (NYSE:CFX) last released its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. The business had revenue of $965.83 million during the quarter, compared to analyst estimates of $940.31 million. During the same quarter last year, the business earned $0.41 earnings per share. Colfax Corporation’s quarterly revenue was up .9% compared to the same quarter last year. Analysts anticipate that Colfax Corporation will post $1.72 earnings per share for the current year.
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In other Colfax Corporation news, SVP Stephen Wittig sold 29,189 shares of Colfax Corporation stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $39.30, for a total transaction of $1,147,127.70. Following the completion of the sale, the senior vice president now directly owns 15,479 shares in the company, valued at approximately $608,324.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel A. Pryor sold 3,574 shares of Colfax Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total transaction of $146,998.62. Following the sale, the executive vice president now owns 40,224 shares of the company’s stock, valued at $1,654,413.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,202 shares of company stock valued at $1,312,182. Company insiders own 10.60% of the company’s stock.
Several large investors have recently bought and sold shares of CFX. Nationwide Fund Advisors increased its holdings in shares of Colfax Corporation by 68.7% during the 1st quarter. Nationwide Fund Advisors now owns 20,288 shares of the industrial products company’s stock valued at $797,000 after purchasing an additional 8,261 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Colfax Corporation by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 345,335 shares of the industrial products company’s stock valued at $13,559,000 after purchasing an additional 1,978 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Colfax Corporation by 13.8% during the 1st quarter. Ameriprise Financial Inc. now owns 171,863 shares of the industrial products company’s stock valued at $6,747,000 after purchasing an additional 20,891 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Colfax Corporation by 32.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 127,174 shares of the industrial products company’s stock valued at $4,993,000 after purchasing an additional 31,035 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Colfax Corporation by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 17,028 shares of the industrial products company’s stock valued at $668,000 after purchasing an additional 635 shares in the last quarter. 75.22% of the stock is owned by hedge funds and other institutional investors.
About Colfax Corporation
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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