Colfax’s (CFX) “Buy” Rating Reaffirmed at Seaport Global Securities
Colfax (NYSE:CFX)‘s stock had its “buy” rating reaffirmed by Seaport Global Securities in a research note issued to investors on Wednesday. Seaport Global Securities also issued estimates for Colfax’s FY2018 earnings at $2.13 EPS, Q1 2019 earnings at $0.47 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.70 EPS, Q4 2019 earnings at $0.75 EPS and FY2019 earnings at $2.47 EPS.
CFX has been the subject of a number of other research reports. Royal Bank of Canada reiterated a “buy” rating and issued a $44.00 target price on shares of Colfax in a report on Tuesday, November 7th. Cowen cut Colfax from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 18th. Longbow Research upgraded Colfax from a “neutral” rating to a “buy” rating in a report on Tuesday, November 21st. Zacks Investment Research cut Colfax from a “hold” rating to a “strong sell” rating in a report on Friday, November 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $48.00 target price (up previously from $44.00) on shares of Colfax in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.40.
Colfax (NYSE:CFX) opened at $32.95 on Wednesday. The company has a market capitalization of $4,060.00, a P/E ratio of -55.85, a PEG ratio of 1.31 and a beta of 1.17. The company has a quick ratio of 1.47, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. Colfax has a 1-year low of $32.93 and a 1-year high of $43.29.
In related news, SVP A. Lynne Puckett sold 7,270 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total transaction of $305,412.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel A. Pryor sold 53,333 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.15, for a total value of $2,034,653.95. Following the sale, the executive vice president now directly owns 93,557 shares of the company’s stock, valued at $3,569,199.55. The disclosure for this sale can be found here. 10.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CFX. Victory Capital Management Inc. raised its position in Colfax by 54.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,487,041 shares of the industrial products company’s stock valued at $177,776,000 after purchasing an additional 1,589,485 shares in the last quarter. Wells Fargo & Company MN raised its position in Colfax by 97.2% during the 3rd quarter. Wells Fargo & Company MN now owns 2,959,647 shares of the industrial products company’s stock valued at $123,239,000 after purchasing an additional 1,458,683 shares in the last quarter. Oakview Capital Management L.P. bought a new stake in Colfax during the 3rd quarter valued at $16,570,000. Wedge Capital Management L L P NC raised its position in Colfax by 26.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 1,667,364 shares of the industrial products company’s stock valued at $66,061,000 after purchasing an additional 344,946 shares in the last quarter. Finally, PenderFund Capital Management Ltd. bought a new stake in Colfax during the 4th quarter valued at $10,091,000. 74.66% of the stock is owned by institutional investors and hedge funds.
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.
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