Colfax Corporation (CFX) Rating Reiterated by Citigroup Inc.
Colfax Corporation (NYSE:CFX)‘s stock had its “sell” rating reiterated by stock analysts at Citigroup Inc. in a report issued on Monday. They presently have a $40.00 price target on the industrial products company’s stock, up from their previous price target of $39.00. Citigroup Inc.’s target price would suggest a potential downside of 5.55% from the company’s current price.
A number of other analysts have also commented on CFX. Zacks Investment Research lowered Colfax Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada reissued a “buy” rating and set a $45.00 price target on shares of Colfax Corporation in a research note on Wednesday, September 27th. KeyCorp reissued a “buy” rating and set a $46.00 price target on shares of Colfax Corporation in a research note on Tuesday, September 26th. Cowen and Company reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Colfax Corporation in a research note on Tuesday, September 26th. Finally, BidaskClub lowered Colfax Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $46.00.
Colfax Corporation (NYSE CFX) traded up 0.45% during mid-day trading on Monday, hitting $42.35. 421,008 shares of the company traded hands. Colfax Corporation has a one year low of $28.47 and a one year high of $42.93. The company’s 50-day moving average price is $40.59 and its 200 day moving average price is $40.01. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 33.32 and a beta of 1.32.
Colfax Corporation (NYSE:CFX) last released its earnings results on Friday, July 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.43. Colfax Corporation had a return on equity of 6.30% and a net margin of 4.35%. The firm had revenue of $965.83 million for the quarter, compared to analysts’ expectations of $940.31 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts anticipate that Colfax Corporation will post $1.72 earnings per share for the current fiscal year.
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In other Colfax Corporation news, SVP Stephen Wittig sold 29,189 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $39.30, for a total value of $1,147,127.70. Following the transaction, the senior vice president now directly owns 15,479 shares of the company’s stock, valued at $608,324.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Daniel A. Pryor sold 3,574 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total value of $146,998.62. Following the completion of the transaction, the executive vice president now directly owns 40,224 shares in the company, valued at $1,654,413.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,202 shares of company stock worth $1,312,182. Insiders own 10.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFX. BlackRock Inc. increased its holdings in shares of Colfax Corporation by 13,409.0% during the first quarter. BlackRock Inc. now owns 4,103,892 shares of the industrial products company’s stock valued at $161,119,000 after acquiring an additional 4,073,513 shares in the last quarter. Oak Ridge Investments LLC bought a new stake in shares of Colfax Corporation during the second quarter valued at approximately $46,085,000. FMR LLC increased its holdings in shares of Colfax Corporation by 32.8% during the first quarter. FMR LLC now owns 4,243,210 shares of the industrial products company’s stock valued at $166,588,000 after acquiring an additional 1,048,360 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in shares of Colfax Corporation during the second quarter valued at approximately $35,722,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Colfax Corporation by 1,233.6% during the first quarter. Point72 Asset Management L.P. now owns 904,200 shares of the industrial products company’s stock valued at $35,499,000 after acquiring an additional 836,400 shares in the last quarter. Hedge funds and other institutional investors own 75.22% of the company’s stock.
Colfax Corporation 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 customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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