Colfax (CFX) PT Lowered to $23.00
Colfax (NYSE:CFX) had its price target lowered by Barclays from $25.00 to $23.00 in a research note published on Monday. The brokerage currently has an underweight rating on the industrial products company’s stock.
Other analysts also recently issued reports about the stock. Oppenheimer reissued a buy rating and set a $37.00 price objective (down from $42.00) on shares of Colfax in a research report on Thursday, October 25th. Robert W. Baird reaffirmed a buy rating and set a $35.00 price target on shares of Colfax in a report on Monday, October 29th. Argus dropped their price target on shares of Colfax from $40.00 to $34.00 and set a buy rating on the stock in a report on Monday, October 29th. Stifel Nicolaus raised their price target on shares of Colfax from $37.00 to $40.00 and gave the company a buy rating in a report on Monday, October 8th. Finally, Morgan Stanley started coverage on shares of Colfax in a report on Monday, August 20th. They set an equal weight rating and a $34.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. Colfax presently has an average rating of Hold and an average target price of $34.23.
Shares of CFX stock opened at $20.55 on Monday. Colfax has a one year low of $20.36 and a one year high of $42.08. The stock has a market cap of $2.46 billion, a P/E ratio of 10.11, a PEG ratio of 0.66 and a beta of 1.54. The company has a current ratio of 1.83, a quick ratio of 1.37 and a debt-to-equity ratio of 0.33.
In related news, SVP A. Lynne Puckett sold 2,540 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $26.18, for a total value of $66,497.20. Following the transaction, the senior vice president now owns 54,818 shares of the company’s stock, valued at $1,435,135.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jason Maclean sold 1,120 shares of the firm’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $29.06, for a total transaction of $32,547.20. Following the completion of the transaction, the senior vice president now directly owns 9,716 shares in the company, valued at approximately $282,346.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,892 shares of company stock worth $183,658. Insiders own 10.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Sustainable Insight Capital Management LLC purchased a new position in shares of Colfax in the second quarter worth approximately $288,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Colfax in the second quarter worth approximately $402,000. Victory Capital Management Inc. boosted its holdings in shares of Colfax by 2.1% in the third quarter. Victory Capital Management Inc. now owns 4,126,083 shares of the industrial products company’s stock worth $148,786,000 after buying an additional 84,025 shares during the last quarter. Gabelli Funds LLC purchased a new position in shares of Colfax in the second quarter worth approximately $613,000. Finally, Cove Street Capital LLC boosted its holdings in shares of Colfax by 8.4% in the second quarter. Cove Street Capital LLC now owns 647,143 shares of the industrial products company’s stock worth $19,835,000 after buying an additional 50,312 shares during the last quarter. 81.29% of the stock is currently owned by institutional investors.
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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