Colfax Corp. (NYSE:CFX) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Colfax Corp. (NYSE:CFX) have been given a consensus rating of “Hold” by the fifteen ratings firms that are presently covering the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $29.75.
A number of equities research analysts have issued reports on CFX shares. Barclays PLC reiterated an “equal weight” rating and set a $28.00 target price (up from $26.00) on shares of Colfax Corp. in a report on Monday, July 18th. Zacks Investment Research lowered shares of Colfax Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Citigroup Inc. increased their target price on shares of Colfax Corp. from $25.00 to $26.00 and gave the stock a “sell” rating in a report on Friday, July 29th. Finally, Cowen and Company reiterated a “buy” rating on shares of Colfax Corp. in a report on Friday, June 10th.
In related news, SVP A. Lynne Puckett sold 21,037 shares of the stock in a transaction on Friday, September 30th. The shares were sold at an average price of $31.00, for a total value of $652,147.00. Following the transaction, the senior vice president now directly owns 20,370 shares of the company’s stock, valued at approximately $631,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CFX. Adage Capital Partners GP L.L.C. bought a new position in Colfax Corp. during the second quarter worth approximately $43,724,000. Teachers Advisors Inc. increased its position in shares of Colfax Corp. by 1,262.6% in the second quarter. Teachers Advisors Inc. now owns 1,511,654 shares of the company’s stock valued at $39,998,000 after buying an additional 1,400,718 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Colfax Corp. by 19.3% in the second quarter. Principal Financial Group Inc. now owns 8,020,663 shares of the company’s stock valued at $212,227,000 after buying an additional 1,299,735 shares during the last quarter. Golub Group LLC acquired a new position in shares of Colfax Corp. during the second quarter valued at about $15,773,000. Finally, FMR LLC increased its position in shares of Colfax Corp. by 51.9% in the second quarter. FMR LLC now owns 1,726,480 shares of the company’s stock valued at $45,683,000 after buying an additional 589,700 shares during the last quarter. 78.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Colfax Corp. (NYSE:CFX) traded up 0.39% during trading on Tuesday, reaching $30.73. 775,029 shares of the company were exchanged. The firm has a 50-day moving average price of $29.81 and a 200-day moving average price of $28.86. Colfax Corp. has a 1-year low of $18.22 and a 1-year high of $33.63. The stock has a market capitalization of $3.77 billion, a P/E ratio of 30.46 and a beta of 1.59.
Colfax Corp. (NYSE:CFX) last released its earnings results on Thursday, July 28th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The company had revenue of $957.20 million for the quarter, compared to analyst estimates of $943.50 million. Colfax Corp. had a net margin of 3.23% and a return on equity of 5.55%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. Equities research analysts predict that Colfax Corp. will post $0.71 earnings per share for the current fiscal year.
About Colfax Corp.
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid-handling and fabrication technology products and services to commercial and governmental customers around the world under Howden, ESAB and Colfax Fluid Handling brand names. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology.
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