Oppenheimer Upgrades Colfax (CFX) to Outperform
Oppenheimer upgraded shares of Colfax (NYSE:CFX) from a market perform rating to an outperform rating in a research report released on Tuesday morning, MarketBeat.com reports. The firm currently has $42.00 price objective on the industrial products company’s stock. The analysts noted that the move was a valuation call.
A number of other brokerages have also recently weighed in on CFX. Zacks Investment Research upgraded shares of Colfax from a hold rating to a buy rating and set a $38.00 price objective on the stock in a report on Thursday, August 9th. Deutsche Bank set a $33.00 price objective on shares of Colfax and gave the stock a hold rating in a report on Thursday, July 12th. MED initiated coverage on shares of Colfax in a report on Thursday, July 12th. They issued a hold rating and a $33.00 price objective on the stock. Bank of America cut shares of Colfax from a buy rating to an underperform rating and cut their price objective for the stock from $46.00 to $32.00 in a report on Monday, June 4th. Finally, Barclays increased their price target on shares of Colfax from $29.00 to $30.00 and gave the company an underweight rating in a report on Wednesday, August 8th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Colfax currently has a consensus rating of Hold and a consensus target price of $36.53.
Shares of CFX opened at $35.52 on Tuesday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.81. Colfax has a fifty-two week low of $28.80 and a fifty-two week high of $43.29.
In other news, CEO Matthew L. Trerotola sold 20,488 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $33.32, for a total transaction of $682,660.16. Following the sale, the chief executive officer now owns 266,746 shares in the company, valued at $8,887,976.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 10.20% of the company’s stock.
Several large investors have recently bought and sold shares of CFX. Comerica Bank grew its holdings in shares of Colfax by 21.5% during the first quarter. Comerica Bank now owns 231,310 shares of the industrial products company’s stock valued at $7,559,000 after buying an additional 40,870 shares during the last quarter. Victory Capital Management Inc. lifted its position in Colfax by 17.9% during the first quarter. Victory Capital Management Inc. now owns 5,291,737 shares of the industrial products company’s stock valued at $168,806,000 after purchasing an additional 804,696 shares during the period. Swiss National Bank lifted its position in Colfax by 2.2% during the first quarter. Swiss National Bank now owns 160,700 shares of the industrial products company’s stock valued at $5,126,000 after purchasing an additional 3,500 shares during the period. Motley Fool Wealth Management LLC lifted its position in Colfax by 11.9% during the first quarter. Motley Fool Wealth Management LLC now owns 260,364 shares of the industrial products company’s stock valued at $8,306,000 after purchasing an additional 27,670 shares during the period. Finally, Academy Capital Management Inc. TX bought a new position in Colfax during the first quarter valued at approximately $5,413,000. Hedge funds and other institutional investors own 79.29% of the company’s stock.
Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.
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