Colfax (CFX) Given New $40.00 Price Target at Stifel Nicolaus
Colfax (NYSE:CFX) had its target price trimmed by Stifel Nicolaus from $48.00 to $40.00 in a report released on Wednesday morning, MarketBeat reports. The firm currently has a buy rating on the industrial products company’s stock.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Colfax from a hold rating to a sell rating in a report on Tuesday, October 24th. Oppenheimer restated a hold rating on shares of Colfax in a report on Thursday, November 30th. Robert W. Baird restated a buy rating and set a $50.00 price objective on shares of Colfax in a report on Friday, October 27th. Cowen downgraded shares of Colfax from an outperform rating to a market perform rating in a report on Wednesday, October 18th. Finally, Longbow Research upgraded shares of Colfax from a neutral rating to a buy rating in a report on Tuesday, November 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $44.40.
Colfax (NYSE CFX) opened at $32.27 on Wednesday. Colfax has a fifty-two week low of $31.50 and a fifty-two week high of $43.29. The company has a current ratio of 1.80, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock has a market cap of $3,977.15, a PE ratio of 19.56, a PEG ratio of 1.10 and a beta of 1.17.
In related news, SVP A. Lynne Puckett sold 7,270 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $42.01, for a total value of $305,412.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Daniel A. Pryor sold 53,333 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.15, for a total transaction of $2,034,653.95. Following the completion of the transaction, the executive vice president now owns 93,557 shares in the company, valued at approximately $3,569,199.55. The disclosure for this sale can be found here. 10.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Colfax by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,625,006 shares of the industrial products company’s stock worth $260,827,000 after buying an additional 28,081 shares during the period. Victory Capital Management Inc. grew its stake in shares of Colfax by 54.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,487,041 shares of the industrial products company’s stock worth $177,776,000 after purchasing an additional 1,589,485 shares during the period. BlackRock Inc. grew its stake in shares of Colfax by 1.7% during the 2nd quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock worth $164,353,000 after purchasing an additional 70,676 shares during the period. Wells Fargo & Company MN grew its stake in shares of Colfax by 97.2% during the 3rd quarter. Wells Fargo & Company MN now owns 2,959,647 shares of the industrial products company’s stock worth $123,239,000 after purchasing an additional 1,458,683 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Colfax by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,737,287 shares of the industrial products company’s stock worth $113,984,000 after purchasing an additional 10,709 shares during the period. Institutional investors own 74.66% of the company’s stock.
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Colfax Company Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.
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