Colfax Corporation (CFX) Stock Rating Lowered by BidaskClub
Colfax Corporation (NYSE:CFX) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.
Several other analysts also recently issued reports on CFX. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Colfax Corporation in a research report on Sunday, May 7th. Barclays PLC set a $40.00 target price on Colfax Corporation and gave the stock a “hold” rating in a research report on Saturday, May 6th. Robert W. Baird increased their target price on Colfax Corporation from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, May 8th. Zacks Investment Research upgraded Colfax Corporation from a “hold” rating to a “strong-buy” rating and set a $46.00 target price on the stock in a research report on Tuesday, May 16th. Finally, Credit Suisse Group began coverage on Colfax Corporation in a research report on Thursday, May 18th. They set an “outperform” rating and a $47.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Colfax Corporation presently has a consensus rating of “Hold” and an average price target of $46.00.
Shares of Colfax Corporation (NYSE CFX) traded down 1.05% during mid-day trading on Friday, hitting $37.82. 882,151 shares of the stock were exchanged. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 29.76 and a beta of 1.37. Colfax Corporation has a 52-week low of $27.76 and a 52-week high of $42.75. The stock has a 50-day moving average price of $40.45 and a 200 day moving average price of $39.69.
Colfax Corporation (NYSE:CFX) last posted its earnings results on Friday, July 28th. The industrial products company reported $0.43 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.43. The company had revenue of $965.83 million for the quarter, compared to the consensus estimate of $940.31 million. Colfax Corporation had a return on equity of 6.30% and a net margin of 4.35%. Colfax Corporation’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. On average, equities research analysts expect that Colfax Corporation will post $1.73 earnings per share for the current year.
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In other Colfax Corporation news, SVP A. Lynne Puckett sold 10,882 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $40.14, for a total transaction of $436,803.48. Following the completion of the sale, the senior vice president now directly owns 40,907 shares in the company, valued at $1,642,006.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel A. Pryor sold 3,574 shares of the company’s 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 sale, the executive vice president now owns 40,224 shares of the company’s stock, valued at $1,654,413.12. The disclosure for this sale can be found here. Insiders have sold 14,895 shares of company stock valued at $601,858 over the last 90 days. 10.60% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the company. Front Street Capital Management Inc. raised its stake in shares of Colfax Corporation by 28.4% in the first quarter. Front Street Capital Management Inc. now owns 85,585 shares of the industrial products company’s stock valued at $3,360,000 after buying an additional 18,940 shares in the last quarter. Paloma Partners Management Co bought a new stake in Colfax Corporation during the first quarter worth about $392,000. Point72 Asset Management L.P. raised its stake in Colfax Corporation by 1,233.6% in the first quarter. Point72 Asset Management L.P. now owns 904,200 shares of the industrial products company’s stock worth $35,499,000 after buying an additional 836,400 shares during the period. Bank of New York Mellon Corp raised its stake in Colfax Corporation by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 345,335 shares of the industrial products company’s stock worth $13,559,000 after buying an additional 1,978 shares during the period. Finally, Alambic Investment Management L.P. bought a new stake in Colfax Corporation during the first quarter worth about $254,000. Institutional investors own 77.35% of the company’s stock.
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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