Colfax Corp. (CFX) Upgraded by Argus to “Buy”
Colfax Corp. (NYSE:CFX) was upgraded by equities researchers at Argus from a “hold” rating to a “buy” rating in a report issued on Monday.
A number of other research firms also recently issued reports on CFX. Stifel Nicolaus lifted their price objective on shares of Colfax Corp. from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, October 28th. Zacks Investment Research downgraded shares of Colfax Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Citigroup Inc. boosted their price target 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, Barclays PLC reissued an “equal weight” rating and issued a $28.00 price target (up from $26.00) on shares of Colfax Corp. in a report on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $30.83.
Shares of Colfax Corp. (NYSE:CFX) opened at 36.36 on Monday. Colfax Corp. has a 52 week low of $18.22 and a 52 week high of $36.66. The firm has a market capitalization of $4.46 billion, a P/E ratio of 33.64 and a beta of 1.41. The firm’s 50-day moving average is $30.91 and its 200-day moving average is $29.14.
Colfax Corp. (NYSE:CFX) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. The firm had revenue of $879.20 million for the quarter, compared to the consensus estimate of $892.33 million. Colfax Corp. had a net margin of 3.56% and a return on equity of 6.18%. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. Equities analysts anticipate that Colfax Corp. will post $1.55 EPS for the current year.
In related news, SVP A. Lynne Puckett sold 21,037 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $31.00, for a total value of $652,147.00. Following the sale, the senior vice president now directly owns 20,370 shares in the company, valued at approximately $631,470. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.50% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in shares of Colfax Corp. during the second quarter worth about $5,683,000. SeaBridge Investment Advisors LLC boosted its stake in shares of Colfax Corp. by 2.3% in the second quarter. SeaBridge Investment Advisors LLC now owns 19,774 shares of the company’s stock worth $523,000 after buying an additional 454 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Colfax Corp. during the second quarter worth about $310,000. DAVENPORT & Co LLC boosted its stake in shares of Colfax Corp. by 2.5% in the second quarter. DAVENPORT & Co LLC now owns 1,735,604 shares of the company’s stock worth $45,924,000 after buying an additional 42,216 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Colfax Corp. during the first quarter worth about $319,000. Institutional investors and hedge funds own 77.28% of the company’s stock.
Colfax Corp. 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 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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