Colfax (CFX) Receives Buy Rating from Oppenheimer

Colfax (NYSE:CFX)‘s stock had its “buy” rating reiterated by Oppenheimer in a research report issued on Monday.

CFX has been the subject of a number of other research reports. Stifel Nicolaus boosted their price target on shares of Colfax from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Deutsche Bank set a $30.00 price target on shares of Colfax and gave the stock a “hold” rating in a research note on Friday, October 26th. Morgan Stanley started coverage on shares of Colfax in a research note on Monday, August 20th. They issued an “equal weight” rating and a $34.00 price target for the company. Cowen raised shares of Colfax from a “market perform” rating to an “outperform” rating in a research note on Friday, August 17th. Finally, Argus cut their price target on shares of Colfax from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $34.77.

CFX stock traded down $4.16 during midday trading on Monday, reaching $23.82. The company had a trading volume of 268,570 shares, compared to its average volume of 1,102,297. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.37. Colfax has a 1 year low of $26.25 and a 1 year high of $42.08. The stock has a market cap of $3.28 billion, a PE ratio of 13.68, a P/E/G ratio of 0.92 and a beta of 1.56.

Colfax (NYSE:CFX) last released its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. Colfax had a net margin of 3.03% and a return on equity of 6.97%. The business had revenue of $875.37 million during the quarter, compared to analysts’ expectations of $893.38 million. On average, research analysts expect that Colfax will post 2.25 EPS for the current fiscal year.

In other news, SVP Jason Maclean sold 1,120 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $29.06, for a total value of $32,547.20. Following the completion of the sale, the senior vice president now directly owns 9,716 shares in the company, valued at approximately $282,346.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Colfax by 31.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the industrial products company’s stock worth $247,000 after acquiring an additional 1,917 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Colfax by 40.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,720 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 2,780 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Colfax by 182.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,874 shares of the industrial products company’s stock valued at $149,000 after buying an additional 3,150 shares during the last quarter. TLP Group LLC raised its holdings in Colfax by 166,250.0% during the 3rd quarter. TLP Group LLC now owns 3,327 shares of the industrial products company’s stock valued at $120,000 after buying an additional 3,325 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in Colfax by 36.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 13,077 shares of the industrial products company’s stock valued at $401,000 after buying an additional 3,477 shares during the last quarter. Hedge funds and other institutional investors own 78.57% of the company’s stock.

Colfax Company Profile

Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.

See Also: Initial Public Offering (IPO)

Analyst Recommendations for Colfax (NYSE:CFX)

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