Investment Analysts’ Recent Ratings Changes for Colfax Corporation (CFX)
Several analysts have recently updated their ratings and price targets for Colfax Corporation (NYSE: CFX):
- 10/9/2017 – Colfax Corporation had its “sell” rating reaffirmed by analysts at Citigroup Inc.. They now have a $40.00 price target on the stock, up previously from $39.00.
- 10/9/2017 – Colfax Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $47.00 price target on the stock. According to Zacks, “In the last three months, Colfax's shares outperformed the industry. We believe that the company holds solid growth opportunities from its inorganic strategies. Assets acquired during second-quarter 2017, TBi and HKS, will strengthen its welding process analytics and robotic welding torches operations in the Fabrication Technology segment. Also, it anticipates completing the acquisition of Siemens Turbomachinery Equipment GmbH business. In September, it agreed to sell its Fluid Handling business to CIRCOR. The deal will lead to material gain upon completion of the deal in the fourth quarter of 2017. For 2017, the company anticipates earnings to be within $1.65-$1.75 per share, up from the previous projection of $1.60-$1.75.”
- 9/27/2017 – Colfax Corporation had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $45.00 price target on the stock.
- 9/26/2017 – Colfax Corporation had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $50.00 price target on the stock.
- 9/26/2017 – Colfax Corporation had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $46.00 price target on the stock.
- 8/29/2017 – Colfax Corporation had its “buy” rating reaffirmed by analysts at Argus. They now have a $50.00 price target on the stock.
- 8/25/2017 – Colfax Corporation was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating. They now have a $46.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
- 8/18/2017 – Colfax Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
Colfax Corporation (NYSE:CFX) last released its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates 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%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share.
In other Colfax Corporation news, SVP Stephen Wittig sold 29,189 shares of Colfax Corporation stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $39.30, for a total transaction of $1,147,127.70. Following the sale, the senior vice president now directly owns 15,479 shares of the company’s stock, valued at $608,324.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel A. Pryor sold 3,574 shares of Colfax Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total value of $146,998.62. Following the sale, the executive vice president now directly owns 40,224 shares in the company, valued at $1,654,413.12. The disclosure for this sale can be found here. Insiders have sold 33,202 shares of company stock worth $1,312,182 over the last ninety days. Company insiders own 10.60% of the company’s stock.
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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