Investors Buy Large Volume of Put Options on Colfax (NYSE:CFX)
Colfax Co. (NYSE:CFX) was the target of some unusual options trading on Monday. Traders bought 14,185 put options on the company. This is an increase of approximately 1,427% compared to the typical volume of 929 put options.
A number of equities analysts have recently commented on CFX shares. Morgan Stanley boosted their price target on Colfax from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Friday. Barclays reissued an “underweight” rating and issued a $45.00 target price (down previously from $48.00) on shares of Colfax in a report on Tuesday, April 13th. KeyCorp lifted their price target on shares of Colfax from $47.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, March 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Colfax from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Friday, March 12th. Finally, TheStreet raised shares of Colfax from a “c” rating to a “b-” rating in a research note on Monday, February 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Colfax currently has an average rating of “Hold” and a consensus price target of $40.58.
In other news, CFO Christopher M. Hix sold 18,206 shares of the business’s stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $46.74, for a total value of $850,948.44. Following the completion of the transaction, the chief financial officer now directly owns 81,522 shares in the company, valued at approximately $3,810,338.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Shyam Kambeyanda sold 11,897 shares of the company’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $46.74, for a total transaction of $556,065.78. Following the sale, the executive vice president now directly owns 86,752 shares of the company’s stock, valued at approximately $4,054,788.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,524 shares of company stock valued at $1,886,484. 12.00% of the stock is owned by insiders.
Shares of NYSE CFX opened at $43.66 on Tuesday. The firm has a market cap of $5.91 billion, a PE ratio of -873.20, a P/E/G ratio of 2.61 and a beta of 2.15. The company’s fifty day simple moving average is $44.85 and its 200 day simple moving average is $39.66. The company has a quick ratio of 0.96, a current ratio of 1.64 and a debt-to-equity ratio of 0.63. Colfax has a 12-month low of $22.30 and a 12-month high of $50.26.
Colfax (NYSE:CFX) last announced its quarterly earnings results on Thursday, April 29th. The industrial products company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.05. Colfax had a negative net margin of 0.24% and a positive return on equity of 6.04%. On average, equities analysts predict that Colfax will post 1.38 earnings per share for the current year.
Colfax Company Profile
Colfax Corporation operates as a diversified technology company worldwide. The company operates in two segments, Fabrication Technology and Medical Technology. The Fabrication Technology segment formulates, develops, manufactures, and supplies consumable products and equipment, including cutting, joining, and automated welding products, as well as gas control equipment.
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