Colfax (CFX) Price Target Increased to $48.00 by Analysts at Stifel Nicolaus
Colfax (NYSE:CFX) had its price objective upped by equities researchers at Stifel Nicolaus from $44.00 to $48.00 in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 14.94% from the stock’s previous close.
Several other equities analysts have also recently commented on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $44.00 price target on shares of Colfax in a research report on Tuesday, November 7th. Zacks Investment Research cut shares of Colfax from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Robert W. Baird reaffirmed a “buy” rating and set a $50.00 price target on shares of Colfax in a research report on Friday, October 27th. Cowen lowered shares of Colfax from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 18th. Finally, Longbow Research upgraded shares of Colfax from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $46.20.
Colfax (CFX) opened at $41.76 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.80. Colfax has a 12-month low of $33.31 and a 12-month high of $43.29. The company has a market cap of $5,141.31, a PE ratio of 29.41, a PEG ratio of 1.60 and a beta of 1.27.
Colfax (NYSE:CFX) last issued its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Colfax had a net margin of 4.89% and a return on equity of 6.26%. The business had revenue of $844.50 million for the quarter, compared to analysts’ expectations of $901.09 million. During the same quarter last year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. research analysts forecast that Colfax will post 1.72 EPS for the current fiscal year.
In related news, EVP Daniel A. Pryor sold 53,333 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total transaction of $2,034,653.95. Following the sale, the executive vice president now owns 93,557 shares in the company, valued at $3,569,199.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CFX. Schwab Charles Investment Management Inc. raised its stake in Colfax by 13.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 444,560 shares of the industrial products company’s stock worth $17,503,000 after acquiring an additional 53,918 shares during the period. Prudential Financial Inc. increased its stake in shares of Colfax by 235.7% in the second quarter. Prudential Financial Inc. now owns 29,055 shares of the industrial products company’s stock valued at $1,144,000 after purchasing an additional 20,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Colfax by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 323 shares during the period. Swiss National Bank increased its stake in shares of Colfax by 1.3% in the second quarter. Swiss National Bank now owns 154,200 shares of the industrial products company’s stock valued at $6,071,000 after purchasing an additional 2,000 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Colfax by 158.6% in the second quarter. JPMorgan Chase & Co. now owns 57,034 shares of the industrial products company’s stock valued at $2,245,000 after purchasing an additional 34,981 shares during the period. Hedge funds and other institutional investors own 74.89% of the company’s stock.
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Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.
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