Colfax (CFX) Price Target Cut to $44.00

Colfax (NYSE:CFX) had its target price reduced by KeyCorp from $46.00 to $44.00 in a report issued on Wednesday morning. They currently have an overweight rating on the industrial products company’s stock. KeyCorp also issued estimates for Colfax’s Q1 2018 earnings at $0.46 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.58 EPS, Q4 2018 earnings at $0.54 EPS, FY2018 earnings at $2.10 EPS and FY2019 earnings at $2.40 EPS.

Several other analysts also recently weighed in on CFX. Stifel Nicolaus decreased their price target on shares of Colfax from $48.00 to $40.00 and set a buy rating for the company in a research note on Wednesday. Zacks Investment Research downgraded shares of Colfax from a hold rating to a sell rating in a research note on Tuesday, October 24th. Oppenheimer reaffirmed a hold rating on shares of Colfax in a research note on Thursday, November 30th. Longbow Research raised shares of Colfax from a neutral rating to a buy rating in a research note on Tuesday, November 21st. Finally, Cowen downgraded shares of Colfax from an outperform rating to a market perform rating in a research note on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $44.40.

Shares of Colfax (CFX) opened at $32.27 on Wednesday. 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 $31.50 and a 12 month high of $43.29. The firm has a market cap of $4,060.95, a P/E ratio of 19.97, a PEG ratio of 1.12 and a beta of 1.17.

Colfax (NYSE:CFX) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Colfax had a net margin of 4.28% and a return on equity of 6.11%. The firm had revenue of $874.00 million during the quarter, compared to the consensus estimate of $894.02 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. sell-side analysts expect that Colfax will post 2.11 EPS for the current fiscal year.

In related news, EVP Daniel A. Pryor sold 53,333 shares of the business’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 owns 93,557 shares of the company’s stock, valued at $3,569,199.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP A. Lynne Puckett sold 7,270 shares of the business’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 transaction of $305,412.70. The disclosure for this sale can be found here. Insiders own 10.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Managed Accounts LLC purchased a new position in Colfax in the third quarter worth $160,000. Prudential Financial Inc. grew its holdings in Colfax by 19.6% in the third quarter. Prudential Financial Inc. now owns 34,755 shares of the industrial products company’s stock worth $1,447,000 after purchasing an additional 5,700 shares during the last quarter. BlackRock Inc. grew its holdings in Colfax by 1.7% in the second quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock worth $164,353,000 after purchasing an additional 70,676 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Colfax in the second quarter worth $327,000. Finally, Dimensional Fund Advisors LP grew its holdings in Colfax by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,737,287 shares of the industrial products company’s stock worth $113,984,000 after purchasing an additional 10,709 shares during the last quarter. 74.66% of the stock is currently owned by institutional investors and hedge funds.

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About Colfax

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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