Colfax Corporation (NYSE:CFX)‘s stock had its “hold” rating restated by equities researchers at CIBC in a research note issued to investors on Wednesday, May 24th.
Several other equities research analysts have also recently commented on the stock. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Colfax Corporation in a research report on Tuesday, May 23rd. Credit Suisse Group began coverage on shares of Colfax Corporation in a research report on Thursday, May 18th. They set an “outperform” rating and a $47.00 price target for the company. Zacks Investment Research upgraded shares of Colfax Corporation from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a research report on Tuesday, May 16th. Robert W. Baird lifted their price target on shares of Colfax Corporation from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, May 8th. Finally, Barclays PLC set a $40.00 price target on shares of Colfax Corporation and gave the stock a “hold” rating in a research report on Saturday, May 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $42.29.
Colfax Corporation (NYSE CFX) traded up 0.53% on Wednesday, hitting $39.68. 630,157 shares of the stock traded hands. The stock has a 50-day moving average price of $40.08 and a 200 day moving average price of $38.94. Colfax Corporation has a 12-month low of $24.62 and a 12-month high of $41.99. The stock has a market cap of $4.88 billion, a P/E ratio of 33.91 and a beta of 1.31.
Colfax Corporation (NYSE:CFX) last posted its quarterly earnings data on Friday, May 5th. The industrial products company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. Colfax Corporation had a net margin of 3.98% and a return on equity of 6.29%. The firm had revenue of $845 million during the quarter, compared to analysts’ expectations of $820.23 million. During the same quarter last year, the company posted $0.30 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts expect that Colfax Corporation will post $1.72 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Colfax Corporation (CFX) Earns “Hold” Rating from CIBC” was published by Markets Daily and is the property of of Markets Daily. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/06/16/colfax-corp-cfx-receives-hold-rating-from-cibc-updated-updated.html.
In related news, SVP A. Lynne Puckett sold 10,882 shares of Colfax Corporation stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $40.14, for a total transaction of $436,803.48. Following the transaction, the senior vice president now owns 40,907 shares of the company’s stock, valued at approximately $1,642,006.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 11,547 shares of company stock worth $463,265 in the last three months. 10.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in Colfax Corporation by 3.0% in the third quarter. Wells Fargo & Company MN now owns 1,547,371 shares of the industrial products company’s stock valued at $48,634,000 after buying an additional 44,413 shares during the last quarter. JPMorgan Chase & Co. raised its position in Colfax Corporation by 1,346.3% in the third quarter. JPMorgan Chase & Co. now owns 24,500 shares of the industrial products company’s stock valued at $770,000 after buying an additional 22,806 shares during the last quarter. BlackRock Fund Advisors raised its position in Colfax Corporation by 4.7% in the third quarter. BlackRock Fund Advisors now owns 957,455 shares of the industrial products company’s stock valued at $30,093,000 after buying an additional 43,104 shares during the last quarter. Golub Group LLC raised its position in Colfax Corporation by 0.4% in the third quarter. Golub Group LLC now owns 598,378 shares of the industrial products company’s stock valued at $18,807,000 after buying an additional 2,263 shares during the last quarter. Finally, Private Management Group Inc. purchased a new position in Colfax Corporation during the third quarter valued at $1,106,000. 77.15% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Colfax Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colfax Corporation and related companies with MarketBeat.com's FREE daily email newsletter.