Colfax Corporation (CFX) Rating Lowered to Market Perform at Cowen and Company
Cowen and Company cut shares of Colfax Corporation (NYSE:CFX) from an outperform rating to a market perform rating in a research report released on Wednesday, Marketbeat.com reports.
Several other brokerages also recently weighed in on CFX. Zacks Investment Research raised shares of Colfax Corporation from a hold rating to a buy rating and set a $47.00 target price for the company in a report on Monday, October 9th. BidaskClub downgraded shares of Colfax Corporation from a buy rating to a hold rating in a report on Friday, July 28th. Royal Bank Of Canada reaffirmed a buy rating and issued a $45.00 target price on shares of Colfax Corporation in a report on Wednesday, September 27th. Robert W. Baird raised shares of Colfax Corporation from a neutral rating to an outperform rating and upped their target price for the stock from $47.00 to $50.00 in a report on Monday, July 31st. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $50.00 target price on shares of Colfax Corporation in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $46.50.
Shares of Colfax Corporation (NYSE CFX) opened at 42.75 on Wednesday. The company’s 50-day moving average price is $41.65 and its 200 day moving average price is $40.28. Colfax Corporation has a 1-year low of $29.28 and a 1-year high of $43.01. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 33.63 and a beta of 1.32.
Colfax Corporation (NYSE:CFX) last issued its earnings results on Friday, July 28th. The industrial products company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $965.83 million during the quarter, compared to the consensus estimate of $940.31 million. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. Colfax Corporation’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. On average, analysts predict that Colfax Corporation will post $1.72 earnings per share for the current fiscal year.
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In other Colfax Corporation news, SVP Stephen Wittig sold 29,189 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $39.30, for a total transaction of $1,147,127.70. Following the completion of the transaction, the senior vice president now owns 15,479 shares of the company’s stock, valued at approximately $608,324.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel A. Pryor sold 3,574 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total transaction of $146,998.62. Following the transaction, the executive vice president now directly owns 40,224 shares of the company’s stock, valued at approximately $1,654,413.12. The disclosure for this sale can be found here. Insiders have sold a total of 33,202 shares of company stock valued at $1,312,182 in the last three months. Insiders own 10.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Colfax Corporation by 4,167.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,603 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 2,542 shares during the last quarter. Toronto Dominion Bank bought a new position in shares of Colfax Corporation during the 2nd quarter valued at about $118,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Colfax Corporation by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 323 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Colfax Corporation by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 251 shares during the last quarter. Finally, M&T Bank Corp bought a new position in shares of Colfax Corporation during the 1st quarter valued at about $214,000. 75.22% of the stock is owned by institutional investors and hedge funds.
About Colfax Corporation
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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