Colfax (NYSE:CFX) was upgraded by research analysts at Longbow Research from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, November 21st, Marketbeat reports.
Other analysts have also issued reports about the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $45.00 target price on shares of Colfax in a report on Wednesday, September 27th. Argus reaffirmed a “buy” rating and set a $50.00 target price on shares of Colfax in a report on Tuesday, August 29th. Citigroup reissued a “sell” rating and issued a $40.00 price objective (up from $39.00) on shares of Colfax in a report on Monday, October 9th. Cowen lowered Colfax from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research raised Colfax from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $46.40.
Colfax (CFX) traded down $0.12 on Tuesday, hitting $36.41. The stock had a trading volume of 755,852 shares, compared to its average volume of 713,574. The company has a quick ratio of 1.47, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. The company has a market cap of $4,595.91, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 2.18 and a beta of 1.26. Colfax has a fifty-two week low of $33.31 and a fifty-two week high of $43.29.
In related news, SVP Stephen Wittig sold 29,189 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 15,479 shares in the company, valued at approximately $608,324.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in Colfax by 1.1% during the 2nd quarter. Principal Financial Group Inc. now owns 8,956,040 shares of the industrial products company’s stock worth $352,600,000 after purchasing an additional 95,361 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Colfax by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,625,006 shares of the industrial products company’s stock valued at $260,827,000 after purchasing an additional 28,081 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Colfax by 1.7% in the 2nd quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock valued at $164,353,000 after purchasing an additional 70,676 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Colfax by 97.2% in the 3rd quarter. Wells Fargo & Company MN now owns 2,959,647 shares of the industrial products company’s stock valued at $123,239,000 after purchasing an additional 1,458,683 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Colfax by 82.2% in the 3rd quarter. Victory Capital Management Inc. now owns 2,897,556 shares of the industrial products company’s stock valued at $120,655,000 after purchasing an additional 1,306,927 shares during the last quarter. 74.86% of the stock is owned by hedge funds and other institutional investors.
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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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