Colfax Corporation (NYSE:CFX) was downgraded by investment analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, October 18th, Marketbeat Ratings reports.
A number of other equities analysts have also commented on CFX. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price target on shares of Colfax Corporation in a report on Tuesday, October 17th. Zacks Investment Research lowered shares of Colfax Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada reissued a “buy” rating and issued a $45.00 price target on shares of Colfax Corporation in a report on Wednesday, September 27th. BidaskClub lowered shares of Colfax Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Finally, KeyCorp reissued a “buy” rating and issued a $46.00 price target on shares of Colfax Corporation in a report on Tuesday, September 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $46.50.
Colfax Corporation (CFX) traded down $5.41 during midday trading on Wednesday, hitting $36.92. 3,728,063 shares of the stock traded hands, compared to its average volume of 486,321. Colfax Corporation has a one year low of $31.33 and a one year high of $43.29. The company has a current ratio of 1.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $5,208.12, a price-to-earnings ratio of 25.97, a P/E/G ratio of 2.57 and a beta of 1.30.
Colfax Corporation (NYSE:CFX) last posted its earnings results on Monday, November 6th. The industrial products company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. The business had revenue of $844.50 million for the quarter, compared to analyst estimates of $901.09 million. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. Colfax Corporation’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. equities research analysts expect that Colfax Corporation will post 1.74 earnings per share for the current fiscal year.
In other news, SVP Stephen Wittig sold 29,189 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $39.30, for a total value of $1,147,127.70. Following the completion of the sale, the senior vice president now owns 15,479 shares of the company’s stock, valued at approximately $608,324.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Colfax Corporation by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 343,031 shares of the industrial products company’s stock valued at $14,284,000 after purchasing an additional 4,189 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Colfax Corporation by 16.4% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,125 shares of the industrial products company’s stock valued at $838,000 after buying an additional 2,830 shares during the period. New York State Common Retirement Fund boosted its position in Colfax Corporation by 4.0% during the 3rd quarter. New York State Common Retirement Fund now owns 198,600 shares of the industrial products company’s stock valued at $8,270,000 after buying an additional 7,600 shares during the period. Sei Investments Co. boosted its position in Colfax Corporation by 1,025.9% during the 3rd quarter. Sei Investments Co. now owns 11,327 shares of the industrial products company’s stock valued at $472,000 after buying an additional 10,321 shares during the period. Finally, Prudential Financial Inc. boosted its position in Colfax Corporation by 19.6% during the 3rd quarter. Prudential Financial Inc. now owns 34,755 shares of the industrial products company’s stock valued at $1,447,000 after buying an additional 5,700 shares during the period. 76.14% of the stock is owned by institutional investors.
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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