Brokerages Set Colfax Corp (CFX) Target Price at $31.61
Colfax Corp (NYSE:CFX) has been assigned a consensus rating of “Hold” from the twenty-one ratings firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $31.61.
Several research firms have weighed in on CFX. ValuEngine raised Colfax from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 21st. Oppenheimer dropped their price target on Colfax from $37.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, December 20th. Goldman Sachs Group assumed coverage on Colfax in a research report on Friday, April 5th. They set a “buy” rating and a $34.00 price target on the stock. Longbow Research reaffirmed a “buy” rating and set a $38.00 price target on shares of Colfax in a research report on Thursday, March 21st. Finally, Gabelli reaffirmed a “buy” rating on shares of Colfax in a research report on Thursday, February 14th.
NYSE:CFX traded down $0.03 during mid-day trading on Wednesday, hitting $30.43. The company had a trading volume of 741,200 shares, compared to its average volume of 2,405,257. Colfax has a fifty-two week low of $18.95 and a fifty-two week high of $37.05. The company has a current ratio of 1.63, a quick ratio of 1.22 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 0.94 and a beta of 1.58.
In related news, SVP Lynn H. Clark sold 2,666 shares of the stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $26.50, for a total transaction of $70,649.00. Following the completion of the transaction, the senior vice president now directly owns 35,662 shares in the company, valued at $945,043. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ian Brander sold 4,260 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $27.01, for a total value of $115,062.60. Following the transaction, the chief executive officer now owns 21,876 shares of the company’s stock, valued at $590,870.76. The disclosure for this sale can be found here. 10.20% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of CFX. Macquarie Group Ltd. bought a new position in Colfax in the fourth quarter valued at approximately $27,000. Pinnacle Bank bought a new position in Colfax in the fourth quarter valued at approximately $36,000. SG Americas Securities LLC bought a new position in Colfax in the fourth quarter valued at approximately $112,000. TLP Group LLC grew its stake in Colfax by 166,250.0% in the third quarter. TLP Group LLC now owns 3,327 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 3,325 shares in the last quarter. Finally, Group One Trading L.P. bought a new position in Colfax in the fourth quarter valued at approximately $121,000. Institutional investors and hedge funds own 80.14% of the company’s stock.
Colfax Company Profile
Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.
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