Oppenheimer upgraded shares of Colfax (NYSE:CFX) from a market perform rating to an outperform rating in a research report report published on Tuesday morning, Marketbeat reports. They currently have $42.00 target price on the industrial products company’s stock. Oppenheimer also issued estimates for Colfax’s FY2019 earnings at $2.55 EPS. The analysts noted that the move was a valuation call.
Other equities research analysts have also issued reports about the company. UBS Group upgraded Colfax from a market perform rating to an outperform rating in a research report on Tuesday. Barclays lifted their price target on Colfax from $29.00 to $30.00 and gave the company an underweight rating in a research report on Wednesday, August 8th. Zacks Investment Research upgraded Colfax from a hold rating to a buy rating and set a $38.00 price target on the stock in a research report on Thursday, August 9th. Morgan Stanley initiated coverage on Colfax in a research report on Monday, August 20th. They set an equal weight rating and a $34.00 price target on the stock. Finally, Robert W. Baird restated a buy rating and set a $38.00 price target (up from $36.00) on shares of Colfax in a research report on Monday, August 6th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. Colfax currently has an average rating of Hold and an average price target of $36.53.
CFX opened at $35.36 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.81. Colfax has a 52-week low of $28.80 and a 52-week high of $43.29. The company has a market cap of $4.29 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.38.
Colfax (NYSE:CFX) last posted its earnings results on Monday, August 6th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.09. Colfax had a return on equity of 6.64% and a net margin of 3.47%. The firm had revenue of $925.29 million for the quarter, compared to analysts’ expectations of $939.07 million. During the same period in the previous year, the firm earned $0.45 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. equities analysts anticipate 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 on Wednesday, August 8th. The stock was sold at an average price of $33.32, for a total value of $682,660.16. Following the sale, the chief executive officer now directly owns 266,746 shares of the company’s stock, valued at $8,887,976.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CFX. Comerica Bank boosted its holdings in Colfax by 21.5% in the first quarter. Comerica Bank now owns 231,310 shares of the industrial products company’s stock worth $7,559,000 after acquiring an additional 40,870 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Colfax by 17.9% in the first quarter. Victory Capital Management Inc. now owns 5,291,737 shares of the industrial products company’s stock worth $168,806,000 after acquiring an additional 804,696 shares in the last quarter. Swiss National Bank boosted its holdings in Colfax by 2.2% in the first quarter. Swiss National Bank now owns 160,700 shares of the industrial products company’s stock worth $5,126,000 after acquiring an additional 3,500 shares in the last quarter. Motley Fool Wealth Management LLC boosted its holdings in Colfax by 11.9% in the first quarter. Motley Fool Wealth Management LLC now owns 260,364 shares of the industrial products company’s stock worth $8,306,000 after acquiring an additional 27,670 shares in the last quarter. Finally, Academy Capital Management Inc. TX bought a new stake in Colfax in the first quarter worth $5,413,000. 79.29% of the stock is currently owned by institutional investors and hedge funds.
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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