Colfax Corp (NYSE:CFX) Receives $29.73 Average PT from Analysts

Shares of Colfax Corp (NYSE:CFX) have been assigned a consensus recommendation of “Buy” from the eighteen research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $29.73.

Several analysts have recently commented on CFX shares. Deutsche Bank set a $28.00 target price on Colfax and gave the stock a “hold” rating in a report on Wednesday, July 10th. ValuEngine cut Colfax from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Seaport Global Securities reaffirmed a “buy” rating on shares of Colfax in a research note on Monday. Raymond James reaffirmed a “buy” rating and set a $21.00 price target on shares of Colfax in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus set a $35.00 price target on Colfax and gave the company a “buy” rating in a research note on Wednesday, August 7th.

In other Colfax news, CEO Matthew L. Trerotola sold 18,589 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $28.51, for a total value of $529,972.39. Following the transaction, the chief executive officer now owns 225,604 shares of the company’s stock, valued at $6,431,970.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher M. Hix sold 4,750 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $27.08, for a total value of $128,630.00. Following the completion of the transaction, the chief financial officer now directly owns 29,841 shares in the company, valued at approximately $808,094.28. The disclosure for this sale can be found here. Corporate insiders own 12.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC bought a new position in Colfax in the second quarter valued at approximately $12,770,000. Price T Rowe Associates Inc. MD lifted its position in shares of Colfax by 36.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 20,527,091 shares of the industrial products company’s stock valued at $575,374,000 after buying an additional 5,537,747 shares during the last quarter. Argent Capital Management LLC acquired a new stake in shares of Colfax in the second quarter valued at approximately $1,694,000. UBS Asset Management Americas Inc. lifted its position in shares of Colfax by 9.1% in the second quarter. UBS Asset Management Americas Inc. now owns 143,524 shares of the industrial products company’s stock valued at $4,023,000 after buying an additional 11,982 shares during the last quarter. Finally, Front Street Capital Management Inc. lifted its position in shares of Colfax by 28.4% in the second quarter. Front Street Capital Management Inc. now owns 189,897 shares of the industrial products company’s stock valued at $5,323,000 after buying an additional 41,965 shares during the last quarter. 94.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CFX stock traded up $0.71 during trading hours on Tuesday, hitting $26.04. 9,917 shares of the company’s stock were exchanged, compared to its average volume of 1,548,086. The stock’s 50-day moving average is $26.97 and its 200-day moving average is $27.34. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.27 and a quick ratio of 1.90. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.60. Colfax has a 52 week low of $18.95 and a 52 week high of $37.05.

Colfax (NYSE:CFX) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.60 by $0.04. The company had revenue of $908.65 million for the quarter, compared to analysts’ expectations of $1.25 billion. Colfax had a positive return on equity of 8.69% and a negative net margin of 11.76%. The business’s revenue for the quarter was up 62.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. Equities research analysts forecast that Colfax will post 1.96 earnings per share for the current fiscal year.

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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Analyst Recommendations for Colfax (NYSE:CFX)

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