Colfax Target of Unusually Large Options Trading (NYSE:CFX)


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Colfax Co. (NYSE:CFX) saw unusually large options trading activity on Monday. Stock investors bought 14,185 put options on the stock. This represents an increase of 1,427% compared to the typical daily volume of 929 put options.

Several equities analysts have recently commented on CFX shares. Citigroup increased their target price on Colfax from $35.00 to $41.00 in a research note on Monday, February 22nd. KeyCorp boosted their target price on shares of Colfax from $47.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, March 18th. Morgan Stanley increased their target price on shares of Colfax from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Friday. TheStreet raised shares of Colfax from a “c” rating to a “b-” rating in a report on Monday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Colfax from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Friday, March 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $40.58.

In other news, CEO Matthew L. Trerotola sold 6,057 shares of Colfax stock in a transaction dated Thursday, February 25th. The shares were sold at an average price of $46.01, for a total transaction of $278,682.57. Following the completion of the sale, the chief executive officer now directly owns 233,699 shares in the company, valued at $10,752,490.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Shyam Kambeyanda sold 1,850 shares of the firm’s stock in a transaction dated Thursday, February 25th. The stock was sold at an average price of $46.01, for a total value of $85,118.50. Following the completion of the sale, the executive vice president now directly owns 62,389 shares in the company, valued at $2,870,517.89. The disclosure for this sale can be found here. Insiders have sold a total of 40,524 shares of company stock worth $1,886,484 over the last 90 days. Insiders own 12.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Cooke & Bieler LP raised its stake in shares of Colfax by 2.5% in the 4th quarter. Cooke & Bieler LP now owns 6,337,233 shares of the industrial products company’s stock worth $242,336,000 after buying an additional 154,193 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Colfax by 0.8% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 3,543,356 shares of the industrial products company’s stock valued at $135,498,000 after purchasing an additional 27,092 shares in the last quarter. Cardinal Capital Management LLC CT grew its stake in shares of Colfax by 11.5% in the 4th quarter. Cardinal Capital Management LLC CT now owns 3,046,315 shares of the industrial products company’s stock worth $116,491,000 after purchasing an additional 314,849 shares during the last quarter. Royce & Associates LP lifted its stake in Colfax by 0.4% during the fourth quarter. Royce & Associates LP now owns 2,685,331 shares of the industrial products company’s stock valued at $102,687,000 after purchasing an additional 11,652 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in Colfax by 15.8% during the fourth quarter. DAVENPORT & Co LLC now owns 1,643,557 shares of the industrial products company’s stock worth $62,850,000 after buying an additional 224,197 shares in the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.

Shares of CFX stock opened at $43.66 on Tuesday. Colfax has a 1 year low of $22.30 and a 1 year high of $50.26. The firm has a market capitalization of $5.91 billion, a PE ratio of -873.20, a price-to-earnings-growth ratio of 2.61 and a beta of 2.15. The stock has a fifty day moving average of $44.85 and a two-hundred day moving average of $39.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.96 and a current ratio of 1.64.

Colfax (NYSE:CFX) last announced its earnings results on Thursday, April 29th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. Colfax had a negative net margin of 0.24% and a positive return on equity of 6.04%. Equities research analysts predict that Colfax will post 1.38 earnings per share for the current fiscal year.

Colfax Company Profile

Colfax Corporation operates as a diversified technology company worldwide. The company operates in two segments, Fabrication Technology and Medical Technology. The Fabrication Technology segment formulates, develops, manufactures, and supplies consumable products and equipment, including cutting, joining, and automated welding products, as well as gas control equipment.

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