Colfax Corp. (CFX) Shares Up 2.5%
Colfax Corp. (NYSE:CFX) shares shot up 2.5% during mid-day trading on Thursday . The company traded as high as $28.80 and last traded at $28.71, with a volume of 171,521 shares trading hands. The stock had previously closed at $28.02.
A number of research firms recently issued reports on CFX. Deutsche Bank AG reiterated a “hold” rating on shares of Colfax Corp. in a report on Sunday, April 17th. Zacks Investment Research upgraded Colfax Corp. from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Wednesday, May 4th. Stifel Nicolaus decreased their target price on Colfax Corp. from $36.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 4th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Colfax Corp. in a report on Wednesday, May 18th. Finally, Cowen and Company reiterated a “buy” rating on shares of Colfax Corp. in a report on Friday, June 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. Colfax Corp. currently has an average rating of “Hold” and a consensus target price of $29.48.
The stock has a market cap of $3.49 billion and a price-to-earnings ratio of 25.86. The company has a 50 day moving average price of $27.77 and a 200-day moving average price of $26.54.
Colfax Corp. (NYSE:CFX) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $876.80 million for the quarter, compared to analyst estimates of $837.50 million. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, equities analysts forecast that Colfax Corp. will post $1.49 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in CFX. US Bancorp DE increased its stake in Colfax Corp. by 6,365.9% in the fourth quarter. US Bancorp DE now owns 44,162 shares of the company’s stock worth $1,031,000 after buying an additional 43,479 shares during the last quarter. Quantitative Investment Management LLC purchased a new stake in Colfax Corp. during the fourth quarter worth approximately $1,646,000. Rhumbline Advisers increased its stake in Colfax Corp. by 8.7% in the fourth quarter. Rhumbline Advisers now owns 72,417 shares of the company’s stock worth $1,691,000 after buying an additional 5,820 shares during the last quarter. Engineers Gate Manager LP increased its stake in Colfax Corp. by 775.6% in the fourth quarter. Engineers Gate Manager LP now owns 80,106 shares of the company’s stock worth $1,870,000 after buying an additional 70,957 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Colfax Corp. by 2.5% in the fourth quarter. First Trust Advisors LP now owns 95,135 shares of the company’s stock worth $2,221,000 after buying an additional 2,348 shares during the last quarter.
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid-handling and fabrication technology products and services to commercial and governmental customers around the world under Howden, ESAB and Colfax Fluid Handling brand names. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.