Insider Buying: Colfax Corp Director Buys 3,800 Shares of Stock (CFX)
Colfax Corp (NYSE:CFX) Director Mitchell P. Rales acquired 3,800 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average price of $62.18 per share, with a total value of $236,284.00. Following the completion of the purchase, the director now directly owns 11,311,261 shares in the company, valued at approximately $703,334,209. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Colfax Corp (NYSE:CFX) traded up 2.14% during mid-day trading on Friday, hitting $62.46. The stock had a trading volume of 710,485 shares. Colfax Corp has a 52-week low of $50.73 and a 52-week high of $75.37. The stock’s 50-day moving average is $70.05 and its 200-day moving average is $70.03. The company has a market cap of $7.724 billion and a price-to-earnings ratio of 22.79.
Colfax Corp (NYSE:CFX) last announced its earnings results on Thursday, July 17th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.18. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts expect that Colfax Corp will post $2.30 EPS for the current fiscal year.
A number of research firms have recently commented on CFX. Analysts at Zacks reiterated a “neutral” rating on shares of Colfax Corp in a research note on Monday, July 28th. They now have a $72.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Colfax Corp in a research note on Tuesday, July 22nd. They now have a $72.00 price target on the stock, down previously from $75.00. Finally, analysts at Barclays cut their price target on shares of Colfax Corp from $76.00 to $66.00 in a research note on Friday, July 18th. They now have an “equal weight” rating on the stock. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $75.60.
Colfax Corporation (NYSE:CFX) is a global industrial manufacturing and engineering company.
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