Colfax (CFX) Lifted to “Buy” at Gabelli
Gabelli upgraded shares of Colfax (NYSE:CFX) from a hold rating to a buy rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. Gabelli also issued estimates for Colfax’s FY2018 earnings at $2.20 EPS, FY2019 earnings at $2.35 EPS, FY2020 earnings at $2.55 EPS and FY2021 earnings at $2.70 EPS. The analysts noted that the move was a valuation call.
A number of other research firms also recently weighed in on CFX. Stifel Nicolaus restated a buy rating and issued a $50.00 price target on shares of Colfax in a research note on Tuesday, October 17th. Zacks Investment Research downgraded Colfax from a buy rating to a hold rating in a research note on Tuesday, October 17th. Cowen downgraded Colfax from an outperform rating to a market perform rating in a research note on Wednesday, October 18th. Robert W. Baird restated a buy rating and issued a $50.00 price target on shares of Colfax in a research note on Friday, October 27th. Finally, Royal Bank of Canada restated a buy rating and issued a $44.00 price target on shares of Colfax in a research note on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $44.40.
Shares of Colfax (CFX) opened at $34.44 on Wednesday. Colfax has a 1 year low of $33.10 and a 1 year high of $43.29. The stock has a market capitalization of $4,217.95, a P/E ratio of 20.76, a P/E/G ratio of 1.31 and a beta of 1.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.47.
In other news, SVP A. Lynne Puckett sold 7,270 shares of Colfax stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total transaction of $305,412.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel A. Pryor sold 53,333 shares of Colfax stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.15, for a total value of $2,034,653.95. Following the transaction, the executive vice president now owns 93,557 shares of the company’s stock, valued at $3,569,199.55. The disclosure for this sale can be found here. 10.60% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank bought a new position in shares of Colfax during the 2nd quarter worth approximately $118,000. The Manufacturers Life Insurance Company boosted its stake in shares of Colfax by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 251 shares during the period. FNY Managed Accounts LLC bought a new position in shares of Colfax during the 3rd quarter worth approximately $160,000. Valeo Financial Advisors LLC bought a new position in shares of Colfax during the 3rd quarter worth approximately $177,000. Finally, Godshalk Welsh Capital Management Inc. bought a new position in shares of Colfax during the 3rd quarter worth approximately $206,000. Institutional investors own 74.66% of the company’s stock.
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Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.
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