Colfax Corp (CFX) Receives $43.78 Average Price Target from Brokerages

Shares of Colfax Corp (NYSE:CFX) have earned a consensus rating of “Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $43.78.

CFX has been the subject of a number of research reports. Stifel Nicolaus reissued 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 lowered shares of Colfax from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Cowen lowered shares of Colfax from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 18th. Robert W. Baird restated a “buy” rating and issued a $50.00 price objective on shares of Colfax in a report on Friday, October 27th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $44.00 price objective on shares of Colfax in a report on Tuesday, November 7th.

In related news, SVP A. Lynne Puckett sold 7,270 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $42.01, for a total transaction of $305,412.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel A. Pryor sold 53,333 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total transaction of $2,034,653.95. Following the sale, 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. Insiders own 10.60% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Colfax by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,625,006 shares of the industrial products company’s stock valued at $260,827,000 after buying an additional 28,081 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Colfax by 54.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,487,041 shares of the industrial products company’s stock valued at $177,776,000 after buying an additional 1,589,485 shares during the last quarter. BlackRock Inc. raised its holdings in Colfax by 1.7% during the 2nd quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock valued at $164,353,000 after buying an additional 70,676 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Colfax by 97.2% during the 3rd quarter. Wells Fargo & Company MN now owns 2,959,647 shares of the industrial products company’s stock valued at $123,239,000 after buying an additional 1,458,683 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Colfax by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,737,287 shares of the industrial products company’s stock valued at $113,984,000 after buying an additional 10,709 shares during the last quarter. Institutional investors own 75.82% of the company’s stock.

Colfax (NYSE CFX) traded up $0.26 during mid-day trading on Friday, reaching $33.22. 1,132,737 shares of the company’s stock were exchanged, compared to its average volume of 933,469. The company has a current ratio of 1.80, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. Colfax has a fifty-two week low of $31.50 and a fifty-two week high of $43.29. The stock has a market cap of $4,072.04, a PE ratio of 27.35, a PEG ratio of 1.14 and a beta of 1.17.

Colfax (NYSE:CFX) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. Colfax had a net margin of 4.28% and a return on equity of 6.11%. The business had revenue of $874.00 million during the quarter, compared to analysts’ expectations of $894.02 million. During the same quarter in the previous year, the company earned $0.46 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. sell-side analysts forecast that Colfax will post 2.11 earnings per share for the current fiscal year.

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About Colfax

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.

Analyst Recommendations for Colfax (NYSE:CFX)

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