Colfax (NYSE:CFX) was upgraded by research analysts at UBS Group from a “market perform” rating to an “outperform” rating in a report released on Tuesday, The Fly reports.
A number of other brokerages also recently issued reports on CFX. Oppenheimer reaffirmed a “hold” rating on shares of Colfax in a research report on Monday, August 6th. Zacks Investment Research raised shares of Colfax from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Thursday, August 9th. Deutsche Bank set a $33.00 price objective on shares of Colfax and gave the stock a “hold” rating in a research report on Thursday, July 12th. MED initiated coverage on shares of Colfax in a research report on Thursday, July 12th. They issued a “hold” rating and a $33.00 price objective on the stock. Finally, Bank of America downgraded shares of Colfax from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $46.00 to $32.00 in a research report on Monday, June 4th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $36.53.
NYSE CFX opened at $36.11 on Tuesday. The company has a current ratio of 1.81, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38. Colfax has a one year low of $28.80 and a one year high of $43.29.
Colfax (NYSE:CFX) last posted its earnings results on Monday, August 6th. The industrial products company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. The business had revenue of $925.29 million for the quarter, compared to the consensus estimate of $939.07 million. Colfax had a net margin of 3.47% and a return on equity of 6.64%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS. equities research analysts expect that Colfax will post 2.25 EPS for the current year.
In other Colfax news, CEO Matthew L. Trerotola sold 20,488 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $33.32, for a total transaction of $682,660.16. Following the sale, the chief executive officer now owns 266,746 shares of the company’s stock, valued at approximately $8,887,976.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.20% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Swiss National Bank grew its position in Colfax by 2.2% during the 1st quarter. Swiss National Bank now owns 160,700 shares of the industrial products company’s stock worth $5,126,000 after purchasing an additional 3,500 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Colfax by 9.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 550,662 shares of the industrial products company’s stock worth $17,567,000 after purchasing an additional 49,547 shares during the last quarter. Elgethun Capital Management grew its position in Colfax by 13.8% during the 1st quarter. Elgethun Capital Management now owns 72,053 shares of the industrial products company’s stock worth $2,297,000 after purchasing an additional 8,756 shares during the last quarter. Cove Street Capital LLC grew its position in Colfax by 8.4% during the 2nd quarter. Cove Street Capital LLC now owns 647,143 shares of the industrial products company’s stock worth $19,835,000 after purchasing an additional 50,312 shares during the last quarter. Finally, BlackRock Inc. grew its position in Colfax by 3.7% during the 1st quarter. BlackRock Inc. now owns 4,209,215 shares of the industrial products company’s stock worth $134,274,000 after purchasing an additional 148,615 shares during the last quarter. 79.29% of the stock is currently owned by institutional investors.
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.
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