Colfax Corporation (CFX) Stock Rating Upgraded by KeyCorp
KeyCorp upgraded shares of Colfax Corporation (NYSE:CFX) from a sector weight rating to an overweight rating in a research note published on Friday morning, MarketBeat reports. KeyCorp currently has $46.00 target price on the industrial products company’s stock. KeyCorp also issued estimates for Colfax Corporation’s FY2018 earnings at $2.05 EPS. The analysts noted that the move was a valuation call.
A number of other research firms have also recently issued reports on CFX. Zacks Investment Research raised Colfax Corporation from a hold rating to a strong-buy rating and set a $46.00 price objective for the company in a research report on Tuesday, May 16th. BidaskClub cut Colfax Corporation from a buy rating to a hold rating in a research report on Friday, July 28th. Robert W. Baird raised Colfax Corporation from a neutral rating to an outperform rating and boosted their price target for the stock from $47.00 to $50.00 in a research report on Monday, July 31st. Seaport Global Securities reaffirmed a buy rating on shares of Colfax Corporation in a research report on Wednesday, June 14th. Finally, Barclays PLC set a $40.00 price target on Colfax Corporation and gave the stock a hold rating in a research report on Saturday, May 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Colfax Corporation presently has a consensus rating of Buy and an average target price of $46.00.
Shares of Colfax Corporation (NYSE CFX) opened at 38.79 on Friday. The company’s 50 day moving average price is $40.23 and its 200-day moving average price is $39.61. Colfax Corporation has a 12 month low of $27.75 and a 12 month high of $42.75. The firm has a market capitalization of $4.77 billion, a P/E ratio of 30.52 and a beta of 1.37.
Colfax Corporation (NYSE:CFX) last released its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $965.83 million during the quarter, compared to analysts’ expectations of $940.31 million. Colfax Corporation had a return on equity of 6.30% and a net margin of 4.35%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. On average, equities analysts predict that Colfax Corporation will post $1.73 earnings per share for the current fiscal year.
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In other news, EVP Daniel A. Pryor sold 3,574 shares of Colfax Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $41.13, for a total value of $146,998.62. Following the transaction, the executive vice president now directly owns 40,224 shares in the company, valued at $1,654,413.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised its position in Colfax Corporation by 4,167.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,603 shares of the industrial products company’s stock worth $102,000 after buying an additional 2,542 shares during the last quarter. Toronto Dominion Bank acquired a new position in Colfax Corporation during the second quarter worth approximately $118,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Colfax Corporation by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock worth $139,000 after buying an additional 323 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Colfax Corporation by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock worth $145,000 after buying an additional 251 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in Colfax Corporation during the first quarter worth approximately $214,000. Institutional investors and hedge funds own 75.23% 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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