Colfax Corporation (CFX) Given Average Rating of “Hold” by Analysts
Colfax Corporation (NYSE:CFX) has been given a consensus rating of “Hold” by the fifteen research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $46.00.
Several equities research analysts have recently commented on CFX shares. Argus restated a “buy” rating and set a $50.00 price objective on shares of Colfax Corporation in a report on Tuesday, August 29th. Zacks Investment Research upgraded Colfax Corporation from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Tuesday, August 1st. BidaskClub upgraded Colfax Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Cowen and Company restated a “buy” rating and set a $50.00 price objective on shares of Colfax Corporation in a report on Tuesday, September 26th. Finally, KeyCorp restated a “buy” rating and set a $46.00 price objective on shares of Colfax Corporation in a report on Tuesday, September 26th.
In other news, SVP Stephen Wittig sold 29,189 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 15,479 shares of the company’s stock, valued at approximately $608,324.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.60% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in CFX. BlackRock Inc. raised its stake in shares of Colfax Corporation by 13,409.0% during the 1st quarter. BlackRock Inc. now owns 4,103,892 shares of the industrial products company’s stock valued at $161,119,000 after purchasing an additional 4,073,513 shares during the period. Victory Capital Management Inc. raised its stake in shares of Colfax Corporation by 82.2% during the 3rd quarter. Victory Capital Management Inc. now owns 2,897,556 shares of the industrial products company’s stock valued at $120,655,000 after purchasing an additional 1,306,927 shares during the period. Oak Ridge Investments LLC bought a new stake in shares of Colfax Corporation during the 2nd quarter valued at $46,085,000. Balyasny Asset Management LLC bought a new stake in shares of Colfax Corporation during the 2nd quarter valued at $35,722,000. Finally, Lodge Hill Capital LLC raised its stake in shares of Colfax Corporation by 37.9% during the 2nd quarter. Lodge Hill Capital LLC now owns 2,020,200 shares of the industrial products company’s stock valued at $79,535,000 after purchasing an additional 555,000 shares during the period. Institutional investors own 75.39% of the company’s stock.
Shares of Colfax Corporation (CFX) opened at 41.71 on Wednesday. Colfax Corporation has a 52 week low of $30.33 and a 52 week high of $43.29. The company has a market capitalization of $5.13 billion, a PE ratio of 32.82 and a beta of 1.32. The stock has a 50 day moving average price of $42.07 and a 200-day moving average price of $40.45.
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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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