Colfax (CFX) Given “Buy” Rating at Seaport Global Securities

Seaport Global Securities restated their buy rating on shares of Colfax (NYSE:CFX) in a report published on Wednesday.

CFX has been the subject of several other research reports. Royal Bank of Canada reiterated a buy rating and set a $44.00 price target on shares of Colfax in a research note on Tuesday, November 7th. Cowen downgraded Colfax from an outperform rating to a market perform rating in a research note on Wednesday, October 18th. Longbow Research upgraded Colfax from a neutral rating to a buy rating in a research note on Tuesday, November 21st. Zacks Investment Research downgraded Colfax from a hold rating to a strong sell rating in a research note on Friday, November 10th. Finally, Stifel Nicolaus restated a buy rating and set a $48.00 target price (up previously from $44.00) on shares of Colfax in a research note on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Colfax currently has an average rating of Buy and an average target price of $44.40.

Shares of Colfax (CFX) opened at $34.44 on Wednesday. The stock has a market capitalization of $4,217.95, a PE ratio of 20.76, a PEG ratio of 1.31 and a beta of 1.17. Colfax has a 52 week low of $33.10 and a 52 week high of $43.29. 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 (NYSE:CFX) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $874.00 million during the quarter, compared to the consensus estimate of $894.02 million. Colfax had a return on equity of 6.11% and a net margin of 4.28%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. research analysts expect that Colfax will post 2.13 earnings per share for the current year.

In other Colfax news, SVP A. Lynne Puckett sold 7,270 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total value of $305,412.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel A. Pryor sold 53,333 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total value of $2,034,653.95. Following the completion of the transaction, the executive vice president now directly owns 93,557 shares of the company’s stock, valued at approximately $3,569,199.55. The disclosure for this sale can be found here. 10.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. M&T Bank Corp raised its holdings in Colfax by 0.7% in the 2nd quarter. M&T Bank Corp now owns 5,510 shares of the industrial products company’s stock valued at $216,000 after acquiring an additional 41 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Colfax by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 251 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in Colfax by 11.7% in the 3rd quarter. Eqis Capital Management Inc. now owns 13,531 shares of the industrial products company’s stock valued at $563,000 after acquiring an additional 1,415 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Colfax by 49.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,264 shares of the industrial products company’s stock valued at $209,000 after acquiring an additional 1,731 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Colfax by 11.6% in the 3rd quarter. Pacer Advisors Inc. now owns 17,630 shares of the industrial products company’s stock valued at $734,000 after acquiring an additional 1,834 shares in the last quarter. 74.66% of the stock is owned by hedge funds and other institutional investors.

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Colfax Company Profile

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.

Analyst Recommendations for Colfax (NYSE:CFX)

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