Colfax Corporation (NYSE:CFX)‘s stock had its “buy” rating reaffirmed by investment analysts at Robert W. Baird in a research note issued to investors on Friday. They currently have a $50.00 price target on the industrial products company’s stock. Robert W. Baird’s price target points to a potential upside of 18.43% from the stock’s current price.
Several other brokerages have also weighed in on CFX. Zacks Investment Research upgraded shares of Colfax Corporation from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Monday, October 9th. BidaskClub lowered shares of Colfax Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 price objective on shares of Colfax Corporation in a report on Wednesday, September 27th. Cowen and Company lowered shares of Colfax Corporation from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 18th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price objective on shares of Colfax Corporation in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Colfax Corporation presently has a consensus rating of “Hold” and an average price target of $46.50.
Shares of Colfax Corporation (NYSE:CFX) traded down 1.31% during midday trading on Friday, hitting $42.22. 393,088 shares of the company’s stock were exchanged. Colfax Corporation has a one year low of $30.33 and a one year high of $43.29. The stock’s 50-day moving average price is $41.99 and its 200 day moving average price is $40.41. The firm has a market cap of $5.19 billion, a PE ratio of 33.22 and a beta of 1.32.
Colfax Corporation (NYSE:CFX) last announced its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.43 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. The business had revenue of $965.83 million for the quarter, compared to analyst estimates of $940.31 million. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. Equities research analysts forecast that Colfax Corporation will post $1.72 EPS for the current year.
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In related news, EVP Daniel A. Pryor sold 3,574 shares of the firm’s 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 transaction, the executive vice president now owns 40,224 shares in the company, valued at $1,654,413.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Stephen Wittig sold 29,189 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $39.30, for a total transaction of $1,147,127.70. Following the completion of the transaction, the senior vice president now owns 15,479 shares in the company, valued at approximately $608,324.70. The disclosure for this sale can be found here. Insiders sold 33,202 shares of company stock worth $1,312,182 in the last 90 days. 10.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Paloma Partners Management Co purchased a new position in Colfax Corporation in the first quarter valued at approximately $392,000. Capital Fund Management S.A. purchased a new position in Colfax Corporation in the second quarter valued at approximately $1,154,000. Principal Financial Group Inc. raised its holdings in Colfax Corporation by 1.1% in the second quarter. Principal Financial Group Inc. now owns 8,956,040 shares of the industrial products company’s stock valued at $352,600,000 after buying an additional 95,361 shares during the period. Oak Ridge Investments LLC purchased a new position in Colfax Corporation in the second quarter valued at approximately $46,085,000. Finally, TIAA CREF Investment Management LLC raised its holdings in Colfax Corporation by 19.8% in the second quarter. TIAA CREF Investment Management LLC now owns 929,474 shares of the industrial products company’s stock valued at $36,593,000 after buying an additional 153,710 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.
Colfax Corporation 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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