Cowen and Company restated their outperform rating on shares of Colfax Corporation (NYSE:CFX) in a report released on Friday. They currently have a $50.00 price objective on the industrial products company’s stock, up from their previous price objective of $45.00.
Several other brokerages also recently issued reports on CFX. Barclays PLC set a $40.00 price objective on shares of Colfax Corporation and gave the stock a hold rating in a research report on Saturday, May 6th. BidaskClub upgraded shares of Colfax Corporation from a hold rating to a buy rating in a research report on Thursday, July 6th. Wolfe Research started coverage on shares of Colfax Corporation in a research report on Tuesday, July 11th. They set a market perform rating for the company. Zacks Investment Research downgraded shares of Colfax Corporation from a buy rating to a hold rating in a research report on Monday, July 10th. Finally, Oppenheimer Holdings, Inc. restated a hold rating on shares of Colfax Corporation in a research report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Colfax Corporation presently has an average rating of Hold and an average target price of $43.25.
Colfax Corporation (NYSE:CFX) traded up 0.51% during trading on Friday, hitting $41.45. The company had a trading volume of 624,347 shares. The stock has a market capitalization of $5.10 billion, a PE ratio of 35.43 and a beta of 1.37. The stock has a 50-day moving average of $39.73 and a 200-day moving average of $38.95. Colfax Corporation has a one year low of $27.58 and a one year high of $41.99.
Colfax Corporation (NYSE:CFX) last issued its earnings results on Friday, May 5th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $845 million during the quarter, compared to the consensus estimate of $820.23 million. During the same period last year, the business posted $0.30 EPS. Colfax Corporation’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts anticipate that Colfax Corporation will post $1.73 EPS for the current year.
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In other 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 value of $436,803.48. Following the completion of the sale, the senior vice president now directly owns 40,907 shares in the company, valued at $1,642,006.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 11,547 shares of company stock valued at $463,265. 10.60% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in CFX. Beese Fulmer Investment Management Inc. increased its stake in Colfax Corporation by 3.9% in the second quarter. Beese Fulmer Investment Management Inc. now owns 48,681 shares of the industrial products company’s stock worth $1,917,000 after buying an additional 1,843 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Colfax Corporation by 2.5% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 17,750 shares of the industrial products company’s stock worth $699,000 after buying an additional 425 shares during the period. Eqis Capital Management Inc. boosted its position in shares of Colfax Corporation by 11.4% in the second quarter. Eqis Capital Management Inc. now owns 12,116 shares of the industrial products company’s stock worth $477,000 after buying an additional 1,240 shares during the period. Bank of Montreal Can boosted its position in shares of Colfax Corporation by 53.8% in the second quarter. Bank of Montreal Can now owns 333,827 shares of the industrial products company’s stock worth $13,143,000 after buying an additional 116,816 shares during the period. Finally, Lincoln Capital LLC boosted its position in shares of Colfax Corporation by 0.4% in the second quarter. Lincoln Capital LLC now owns 161,591 shares of the industrial products company’s stock worth $6,362,000 after buying an additional 581 shares during the period. Institutional investors own 77.25% 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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