Colfax Corp. (CFX) Receives $30.41 Consensus Price Target from Analysts
Shares of Colfax Corp. (NYSE:CFX) have been given a consensus rating of “Hold” by the twelve research firms that are covering the company. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $30.41.
Several research analysts have issued reports on CFX shares. Zacks Investment Research downgraded Colfax Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Stifel Nicolaus upped their price objective on Colfax Corp. from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, October 28th. Barclays PLC reaffirmed an “equal weight” rating and set a $28.00 price objective (up previously from $26.00) on shares of Colfax Corp. in a report on Monday, July 18th. Finally, Citigroup Inc. upped their price objective on Colfax Corp. from $25.00 to $26.00 and gave the stock a “sell” rating in a report on Friday, July 29th.
In related news, SVP A. Lynne Puckett sold 21,037 shares of the company’s 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 completion of the sale, the senior vice president now owns 20,370 shares in the company, valued at approximately $631,470. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its stake in Colfax Corp. by 7.2% in the third quarter. Principal Financial Group Inc. now owns 8,601,610 shares of the company’s stock worth $270,348,000 after buying an additional 580,947 shares in the last quarter. Vanguard Group Inc. boosted its stake in Colfax Corp. by 4.3% in the second quarter. Vanguard Group Inc. now owns 6,214,694 shares of the company’s stock worth $164,441,000 after buying an additional 258,101 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Colfax Corp. by 2.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,727,405 shares of the company’s stock worth $98,628,000 after buying an additional 80,109 shares in the last quarter. Weitz Investment Management Inc. boosted its stake in Colfax Corp. by 4.5% in the second quarter. Weitz Investment Management Inc. now owns 2,276,544 shares of the company’s stock worth $60,237,000 after buying an additional 98,304 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in Colfax Corp. by 3.5% in the third quarter. DAVENPORT & Co LLC now owns 1,796,334 shares of the company’s stock worth $56,459,000 after buying an additional 60,730 shares in the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.
Shares of Colfax Corp. (NYSE:CFX) opened at 36.36 on Tuesday. The firm has a market cap of $4.46 billion, a PE ratio of 33.64 and a beta of 1.41. Colfax Corp. has a 12 month low of $18.22 and a 12 month high of $36.66. The stock has a 50 day moving average price of $30.91 and a 200 day moving average price of $29.14.
Colfax Corp. (NYSE:CFX) last announced its earnings results on Thursday, October 27th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. The business had revenue of $879.20 million for the quarter, compared to the consensus estimate of $892.33 million. Colfax Corp. had a return on equity of 6.18% and a net margin of 3.56%. Colfax Corp.’s revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 EPS. On average, equities research analysts expect that Colfax Corp. will post $1.55 EPS for the current 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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