Colfax (CFX) Trading Down 1.1% on Analyst Downgrade

Colfax Corp (NYSE:CFX) traded down 1.1% during trading on Wednesday after Robert W. Baird lowered their price target on the stock from $47.00 to $42.00. Robert W. Baird currently has an outperform rating on the stock. Colfax traded as low as $33.10 and last traded at $34.65. 1,036,284 shares were traded during mid-day trading, an increase of 28% from the average session volume of 808,862 shares. The stock had previously closed at $34.26.

Several other equities research analysts have also commented on the stock. Gabelli upgraded shares of Colfax from a “hold” rating to a “buy” rating in a research note on Wednesday. They noted that the move was a valuation call. KeyCorp dropped their price target on shares of Colfax from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday. Stifel Nicolaus dropped their price target on shares of Colfax from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. Zacks Investment Research upgraded shares of Colfax from a “hold” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a research note on Tuesday, January 9th. Finally, Oppenheimer restated a “hold” rating on shares of Colfax in a research note on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $44.40.

In other news, EVP Daniel A. Pryor sold 53,333 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total value of $2,034,653.95. Following the completion of the transaction, the executive vice president now directly owns 93,557 shares in the company, valued at $3,569,199.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $305,412.70. The disclosure for this sale can be found here. Company insiders own 10.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of CFX. Toronto Dominion Bank bought a new position in shares of Colfax in the second quarter valued at approximately $118,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Colfax by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 251 shares in the last quarter. FNY Managed Accounts LLC bought a new position in shares of Colfax in the third quarter valued at approximately $160,000. Valeo Financial Advisors LLC bought a new position in shares of Colfax in the third quarter valued at approximately $177,000. Finally, Godshalk Welsh Capital Management Inc. bought a new position in shares of Colfax in the third quarter valued at approximately $206,000. Institutional investors and hedge funds own 74.66% of the company’s stock.

The firm has a market cap of $4,060.00, a price-to-earnings ratio of -55.85, a PEG ratio of 1.31 and a beta of 1.17. The company has a current ratio of 1.80, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38.

Colfax (NYSE:CFX) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. The firm had revenue of $874.00 million during the quarter, compared to analysts’ expectations of $894.02 million. Colfax had a net margin of 4.28% and a return on equity of 6.11%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. sell-side analysts predict that Colfax Corp will post 2.13 earnings per share for the current fiscal year.

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About Colfax

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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