Wolfe Research Initiates Coverage on Colfax Corp (NYSE:CFX)

Wolfe Research started coverage on shares of Colfax Corp (NYSE:CFX) in a research report sent to investors on Tuesday, July 11th. The brokerage issued a market perform rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the company. Barclays PLC set a $40.00 price objective on Colfax Corp and gave the company a hold rating in a report on Saturday, May 6th. Zacks Investment Research upgraded Colfax Corp from a hold rating to a strong-buy rating and set a $46.00 price objective on the stock in a report on Tuesday, May 16th. Oppenheimer Holdings, Inc. restated a hold rating on shares of Colfax Corp in a report on Tuesday, May 23rd. Robert W. Baird raised their price objective on Colfax Corp from $47.00 to $48.00 and gave the company a neutral rating in a report on Monday, May 8th. Finally, Seaport Global Securities restated a buy rating on shares of Colfax Corp in a report on Wednesday, June 14th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $46.00.

Colfax Corp (CFX) traded up 0.40% during trading on Tuesday, hitting $40.01. 425,942 shares of the stock traded hands. The stock has a 50 day moving average price of $40.24 and a 200-day moving average price of $39.69. Colfax Corp has a 52-week low of $27.76 and a 52-week high of $42.75. The stock has a market cap of $4.92 billion, a P/E ratio of 31.48 and a beta of 1.37.

Colfax Corp (NYSE:CFX) last announced its earnings results on Friday, July 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. Colfax Corp had a return on equity of 6.94% and a net margin of 6.05%. The firm had revenue of $965.83 million for the quarter, compared to analyst estimates of $940.31 million. During the same quarter last year, the firm posted $0.41 EPS. The business’s revenue was up .9% on a year-over-year basis. On average, analysts anticipate that Colfax Corp will post $1.73 EPS for the current fiscal year.

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In other Colfax Corp news, SVP A. Lynne Puckett sold 10,882 shares of Colfax Corp stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $40.14, for a total value of $436,803.48. Following the completion of the transaction, the senior vice president now directly owns 40,907 shares of the company’s stock, valued at approximately $1,642,006.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel A. Pryor sold 3,574 shares of Colfax Corp stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total value of $146,998.62. Following the completion of the transaction, the executive vice president now directly owns 40,224 shares of the company’s stock, valued at $1,654,413.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,560 shares of company stock worth $628,319. Insiders own 10.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. M&T Bank Corp increased its position in Colfax Corp by 0.7% in the second quarter. M&T Bank Corp now owns 5,510 shares of the industrial products company’s stock valued at $216,000 after buying an additional 41 shares in the last quarter. Teacher Retirement System of Texas increased its position in Colfax Corp by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 7,461 shares of the industrial products company’s stock valued at $294,000 after buying an additional 145 shares in the last quarter. US Bancorp DE increased its position in Colfax Corp by 0.9% in the second quarter. US Bancorp DE now owns 27,185 shares of the industrial products company’s stock valued at $1,070,000 after buying an additional 253 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Colfax Corp by 0.5% in the first quarter. Public Employees Retirement System of Ohio now owns 49,985 shares of the industrial products company’s stock valued at $1,962,000 after buying an additional 256 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Colfax Corp by 1.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,393 shares of the industrial products company’s stock valued at $589,000 after buying an additional 293 shares in the last quarter. 77.32% of the stock is owned by institutional investors.

Colfax Corp Company Profile

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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