Colfax Corporation (CFX) Set to Announce Quarterly Earnings on Monday
Colfax Corporation (NYSE:CFX) will issue its quarterly earnings data before the market opens on Monday, November 6th. Analysts expect the company to announce earnings of $0.40 per share for the quarter.
Colfax Corporation (NYSE CFX) opened at $42.33 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $5.14 billion, a PE ratio of 25.65, a PEG ratio of 2.55 and a beta of 1.30.
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CFX has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Colfax Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Argus reaffirmed a “buy” rating and set a $50.00 price target on shares of Colfax Corporation in a research note on Tuesday, August 29th. Citigroup Inc reaffirmed a “sell” rating and set a $40.00 price target (up previously from $39.00) on shares of Colfax Corporation in a research note on Monday, October 9th. Wolfe Research initiated coverage on shares of Colfax Corporation in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, KeyCorp raised shares of Colfax Corporation from a “sector weight” rating to an “overweight” rating and set a $46.00 price target for the company in a research note on Friday, August 25th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.50.
In related news, SVP Stephen Wittig sold 29,189 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $39.30, for a total value of $1,147,127.70. Following the completion of the transaction, the senior vice president now owns 15,479 shares of the company’s stock, valued at $608,324.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.60% of the company’s stock.
A hedge fund recently raised its stake in Colfax Corporation stock. The Manufacturers Life Insurance Company increased its holdings in Colfax Corporation (NYSE:CFX) by 7.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,688 shares of the industrial products company’s stock after buying an additional 251 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Colfax Corporation were worth $145,000 as of its most recent filing with the Securities & Exchange Commission. 75.39% of the stock is currently owned by institutional investors and hedge funds.
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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