Deutsche Bank Reiterates $28.00 Price Target for Colfax (NYSE:CFX)

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Deutsche Bank set a $28.00 price target on Colfax (NYSE:CFX) in a report issued on Wednesday, TipRanks reports. The firm currently has a hold rating on the industrial products company’s stock.

Other analysts also recently issued reports about the stock. Raymond James reaffirmed a buy rating and set a $21.00 price objective on shares of Colfax in a report on Thursday, May 2nd. Longbow Research reaffirmed a sell rating and set a $14.00 price objective on shares of Goodyear Tire & Rubber in a report on Thursday, March 21st. Barclays decreased their price objective on shares of Pivotal Software from $23.00 to $21.00 and set an equal weight rating for the company in a report on Friday, March 15th. CIBC reaffirmed a hold rating on shares of Just Energy Group in a report on Friday, June 7th. Finally, Goldman Sachs Group initiated coverage on shares of Colfax in a report on Friday, April 5th. They set a buy rating and a $34.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $28.81.

NYSE CFX opened at $27.14 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.06 and a debt-to-equity ratio of 1.12. The business’s fifty day moving average price is $26.41. The company has a market cap of $3.08 billion, a P/E ratio of 11.75, a P/E/G ratio of 0.85 and a beta of 1.64. Colfax has a 1 year low of $18.95 and a 1 year high of $37.05.

Colfax (NYSE:CFX) last posted its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.04. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.04 billion. Colfax had a net margin of 1.68% and a return on equity of 8.16%. Colfax’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. As a group, sell-side analysts anticipate that Colfax will post 2.56 earnings per share for the current fiscal year.

In other news, insider Shyam Kambeyanda sold 11,764 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $26.27, for a total value of $309,040.28. Following the completion of the transaction, the insider now owns 51,263 shares in the company, valued at approximately $1,346,679.01. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christopher M. Hix sold 4,750 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $27.08, for a total transaction of $128,630.00. Following the completion of the transaction, the chief financial officer now owns 29,841 shares of the company’s stock, valued at approximately $808,094.28. The disclosure for this sale can be found here. 12.00% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Colfax by 91.1% in the 1st quarter. BlackRock Inc. now owns 8,952,563 shares of the industrial products company’s stock valued at $265,712,000 after buying an additional 4,268,182 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Colfax by 6.2% in the 1st quarter. Principal Financial Group Inc. now owns 7,619,325 shares of the industrial products company’s stock valued at $226,142,000 after buying an additional 442,844 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Colfax by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,854,275 shares of the industrial products company’s stock valued at $80,552,000 after buying an additional 722,975 shares in the last quarter. Royce & Associates LP raised its stake in shares of Colfax by 427.1% in the 1st quarter. Royce & Associates LP now owns 1,824,930 shares of the industrial products company’s stock valued at $54,164,000 after buying an additional 1,478,724 shares in the last quarter. Finally, Wexford Capital LP acquired a new position in shares of Colfax in the 4th quarter valued at $25,894,000. Institutional investors own 93.16% 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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