Colfax Corporation (CFX) Stock Rating Lowered by Cowen and Company
Colfax Corporation (NYSE:CFX) was downgraded by analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday.
Several other equities research analysts have also recently commented on CFX. BidaskClub cut Colfax Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price objective on shares of Colfax Corporation in a research note on Tuesday. Zacks Investment Research cut Colfax Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. Wolfe Research began coverage on Colfax Corporation in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, Robert W. Baird upgraded Colfax Corporation from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $47.00 to $50.00 in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $46.50.
Shares of Colfax Corporation (NYSE:CFX) opened at 42.50 on Wednesday. The company has a market capitalization of $5.23 billion, a P/E ratio of 33.44 and a beta of 1.32. The stock has a 50 day moving average price of $41.26 and a 200-day moving average price of $40.18. Colfax Corporation has a one year low of $28.83 and a one year high of $42.93.
Colfax Corporation (NYSE:CFX) last posted its earnings results on Friday, July 28th. The industrial products company reported $0.43 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. The business had revenue of $965.83 million during the quarter, compared to the consensus estimate of $940.31 million. Colfax Corporation had a return on equity of 6.30% and a net margin of 4.35%. Colfax Corporation’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Equities research analysts predict that Colfax Corporation will post $1.72 earnings per share for the current fiscal year.
In other news, EVP Daniel A. Pryor sold 3,574 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total transaction of $146,998.62. Following the transaction, the executive vice president now owns 40,224 shares of the company’s stock, valued at approximately $1,654,413.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stephen Wittig sold 29,189 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $39.30, for a total transaction of $1,147,127.70. Following the transaction, the senior vice president now directly owns 15,479 shares in the company, valued at approximately $608,324.70. The disclosure for this sale can be found here. Insiders sold 33,202 shares of company stock valued at $1,312,182 over the last 90 days. 10.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in Colfax Corporation by 1.1% in the 2nd quarter. Principal Financial Group Inc. now owns 8,956,040 shares of the industrial products company’s stock valued at $352,600,000 after acquiring an additional 95,361 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Colfax Corporation by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,625,006 shares of the industrial products company’s stock worth $260,827,000 after buying an additional 28,081 shares in the last quarter. FMR LLC lifted its position in shares of Colfax Corporation by 32.8% during the 1st quarter. FMR LLC now owns 4,243,210 shares of the industrial products company’s stock worth $166,588,000 after buying an additional 1,048,360 shares in the last quarter. BlackRock Inc. lifted its position in shares of Colfax Corporation by 1.7% during the 2nd quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock worth $164,353,000 after buying an additional 70,676 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Colfax Corporation by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,726,578 shares of the industrial products company’s stock worth $107,339,000 after buying an additional 62,537 shares in the last quarter. 75.22% of the stock is currently owned by institutional investors and hedge funds.
Colfax Corporation Company Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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